Shares of auto component maker Motherson Sumi Systems today advanced by over 8 per cent after the company reported a 21.65 per cent increase in consolidated net profit for the March quarter.
The stock climbed 8.36 per cent to settle at Rs 290.45 on BSE. During the day, it jumped 10.57 per cent to Rs 296.40.
At NSE, shares of the company rose sharply by 8.39 per cent to end at Rs 290.40.
In terms of volume, 21.86 lakh shares of the company were traded at BSE and over 2 crore shares changed hands on NSE during the day.
Motherson Sumi Systems today reported a 21.65 per cent increase in consolidated net profit at Rs 413.72 crore for the fourth quarter ended March 31, 2016, riding on record sales.
The company had posted a consolidated net profit of Rs 340.1 crore in the same quarter of the previous year, Motherson Sumi Systems said in a BSE filing.
Net sales during the period under review stood at Rs 10,068.1 crore as against Rs 9,321.97 crore in the year-ago period, up 8 per cent.
