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Motherson Sumi first-quarter profit falls 21 percent, misses estimates

Reuters 

- Auto parts maker Systems Ltd reported a 21 percent fall in quarterly profit, missing analyst estimates.

Profit fell to 3.47 billion rupees ($54.27 million) in its first quarter ended June 30, from 4.39 billion rupees a year earlier, the company said on Thursday (http://bit.ly/2ftV2wI).

Net sales outside India rose 25.5 percent to 113.70 billion rupees, while total expenses were up 26 percent.

Analysts had on average expected the company to post a profit of 4.76 billion rupees, according to Thomson data.

($1 = 63.9375 Indian rupees)

(Reporting by Vishal Sridhar in Bengaluru)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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