Motherson Sumi shares decline nearly 5% after 80% fall in Q3 PAT

The stock tanked 4.82 per cent to settle at Rs 171.70 on BSE, it declined 4.54 per cent to close at Rs 172.15 on NSE

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Shares of auto component major Motherson Sumi on Friday tumbled nearly 5 per cent after the company reported a 79.96 per cent drop in its consolidated net profit for the third quarter ended December 31,2021.

The stock tanked 4.82 per cent to settle at Rs 171.70 on BSE. During the day, it tumbled 5.68 per cent to Rs 170.15.

On NSE, it declined 4.54 per cent to close at Rs 172.15.

Motherson Sumi on Friday reported a 79.96 per cent drop in its consolidated net profit to Rs 225.95 crore for the third quarter ended December 31.

The company had posted a consolidated net profit of Rs 1,127.83 crore in the same period of the previous fiscal.

Total revenue from operations stood at Rs 16,117.51 crore in the quarter under review against Rs 17,092.44 crore in the year-ago period, Motherson Sumi Systems Ltd (MSSL) said in a statement.