Motherson Sumi Systems shares zoom over 13% after 8-fold jump in Q4

Shares of auto components major Motherson Sumi Systems Ltd on Wednesday jumped over 13 per cent after Q4 earnings

Shares of auto components major Motherson Sumi Systems Ltd on Wednesday jumped over 13 per cent after the company reported a nearly eight-fold jump in consolidated net profit in the fourth quarter ended March 31.

The stock zoomed 13.35 per cent to close at Rs 269.10 on the BSE. During the day, it gained 14.99 per cent to Rs 273 -- its 52 week high.

On the NSE, it jumped 13.40 per cent to close at Rs 269.10.

In traded volume terms, 72.48 lakh shares were traded at the BSE and over 10.11 crore units at the NSE during the day.

Motherson Sumi Systems Ltd on Wednesday reported a nearly eight-fold jump in consolidated net profit at Rs 1,018.69 crore in the fourth quarter ended March 31 riding on robust sales.

The company had posted a consolidated net profit of Rs 135.66 crore in the same quarter previous fiscal, Motherson Sumi Systems Ltd (MSSL) said in a regulatory filing.

Consolidated total revenue from operations during the period under review stood at Rs 16,971.91 crore as against Rs 14,434.48 crore in the year-ago quarter, it added.

The company said its consolidated revenues in the fourth quarter of the financial year 2020-21 were more than pre-COVID levels as industrial activity picked up globally and despite multiple headwinds such as chip shortage, higher commodity costs, it has sustained profitability.

For the financial year ended March 31, consolidated net profit was at Rs 1,569.37 crore as compared to Rs 1,294.44 crore in the previous year.

However, consolidated total revenue from operations was lower at Rs 57,369.91 crore as against Rs 60,728.99 crore in 2019-20.