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Motherson Sumi Q1 profit falls 21% to Rs347 crore, misses estimates

LiveMint logoLiveMint 10-08-2017 Reuters

Bengaluru: Auto parts maker Motherson Sumi Systems Ltd reported a 21% fall in quarterly profit, missing analyst estimates.

Profit fell to Rs347 crore in its first quarter ended 30 June, from Rs439 crore a year earlier, the company said on Thursday. Net sales outside India rose 25.5% to Rs11,370 crore, while total expenses were up 26%.

Analysts had on average expected the company to post a profit of Rs476 crore, according to Thomson Reuters data.

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