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Motherson Sumi Q4 net up 54.5% at `302.53 crore

LiveMint logoLiveMint 22-05-2014 PTI

New Delhi: Auto components maker Motherson Sumi Systems Ltd (MSSL) on Thursday reported a 54.5% jump in consolidated net profit at `302.53 crore for the fourth quarter ended 31 March 2014. The company had reported net profit of `195.8 crore in the same period of the previous fiscal (2012-13), MSSL said in a BSE filing.

Net sales during Q4, 2013-14 stood at `8,289.01 crore, up 25.59% as compared to `6,599.61 crore in the year-ago period. MSSL chairman V.C. Sehgal said: “We have achieved the consolidated revenues of $5 billion as stated in our Vision 2015. We are working very hard to meet the other parameters which we have set for ourselves in our Vision 2015.”

The company’s consolidated revenue from automotive segment increased by 26.27% to `8,258.8 crore during the quarter, while revenue from non-automotive segment increased by 11.92% to `144.86 crore. MSSL is a joint venture between Samvardhana Motherson Group and Japan-based Sumitomo Wiring Systems. The company’s shares were trading at `278.60 a scrip in the afternoon trade on BSE, down 2.79% from the previous close.

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