Samvardhana Motherson Q2 net profit rises to Rs 288 crore on strong sales

Auto component major Samvardhana Motherson International on Thursday said its consolidated net profit surged more than three-fold to Rs 288 crore in the second quarter ended September, aided by strong sales across business verticals.

The company had reported a net profit of Rs 93 crore for the July-September period of last year.

Total revenue from operations rose to Rs 18,261 crore in the second quarter of the current fiscal as against Rs 14,076 crore in the year-ago period, according to a regulatory filing.

"We are seeing improvement in the external environment though it remains volatile and uncertain. While constructive discussions with customers on sharing of inflationary cost structures are moving in a positive direction, this continues to be a work in progress quarter," the company's Chairman Vivek Chaand Sehgal said.

The strong growth in order book to 18.2 billion euros at SMRP BV is a testimony of the company's strong relationship with its customers, he added.

"Full credit to our business teams who have adopted a lot of efficiency programs, the outcome of which is partly visible in the current result," Sehgal said.

Shares of the company ended 3.29 per cent up at Rs 70.60 apiece on the BSE.