Business Standard

Motherson Sumi first-quarter net profit misses estimates

Image

Reuters

(Reuters) - Indian auto parts maker Motherson Sumi Systems Ltd's net profit jumped about 59 percent in the first quarter but fell short of analysts' expectations, hurt by higher expenses.

Net profit https://www.bseindia.com/xml-data/corpfiling/AttachLive/c95f0ca5-7e66-4e59-8d7d-41fec974a83e.pdf was 4.43 billion rupees ($64.44 million) in the quarter ended June 30, compared with a profit of 2.78 billion rupees a year earlier.

Analysts, on average, had expected a net profit of 5.43 billion rupees, according to Thomson Reuters I/B/E/S estimates.

Total revenue from operations grew 11 percent to 147.75 billion rupees.

($1 = 68.7450 Indian rupees)

(Reporting by Sharnya G in Bengaluru; Editing by Subhranshu Sahu)

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 07 2018 | 12:47 PM IST

Explore News