Motherson Q2 net surges over two-fold to Rs 287 crore

Motherson Sumi Systems (MSSL) today reported an over two-fold increase in its consolidated net profit at Rs 286.89 crore for the September quarter, aided by robust sales in across segments and various geographies.

The company had posted a net profit of Rs 104.44 crore during the same period of the previous fiscal.

Net sales of the company rose to Rs 9,037.32 crore during the period under review as against Rs 7,922.10 crore in the same quarter last fiscal, MSSL said in a statement.

"These second quarter results are among our best ever. Our revenues grew by 14%. Our continued strong performance is the result of our unrelenting focus on creating value for our customers across all markets and segments in which we support them," MSSL Chairman Vivek Chaand Sehgal said.
 

The results confirm the company is firmly on track to achieve its ambitious 2020 target, he added.

The company also announced strong new order bookings from its customers around the world. Its global subsidiary, SMRP BV, has received orders worth around 3.87 billion euro in the period from April to September 2015.

These orders are excluding the order worth 2.2 billion euro received from Daimler, the company said.

"Execution of these orders on a full scale brings MSSL closer to achieving its revenue target in 2020," it added.

Shares of MSSL were trading at Rs 250.50, up 3.30% on the BSE in afternoon trade.