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Motherson Sumi surges as Q4 profit beats estimate

The stock moved higher by 8% to Rs 290, bouncing back 11% from intra-day low of Rs 262 on the BSE.

SI Reporter  |  Mumbai 

Motherson Sumi Systems (MSSL) has moved higher by 8% to Rs 290, bouncing back 11% from intra-day low on the BSE after the company reported better than expected 22% year on year (YoY) jump in its consolidated net profit at Rs 414 crore for the fourth quarter ended March 31, 2016 (Q4FY16). Revenues grew 8% at Rs 10,068 crore on YoY basis. It is the first time in the company history that it achieved revenues of more than Rs 10,000 crore in a quarter. Analysts on an average had expected profit of Rs 379 crore on revenues of Rs 10,728 crore. Ebitda (earnings before ...

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