Motherson Sumi slides after Q1 results

Motherson Sumi Systems fell 4.99% to Rs 335 at 12:50 IST on BSE after consolidated net profit rose 15.81% to Rs 439.36 crore on 15.25% increase in total income to Rs 10454.11 crore in Q1 June 2016 over Q1 June 2015.

The result was announced during trading hours today, 10 August 2016.

Meanwhile, the BSE Sensex was down 220.84 points, or 0.79%, to 27,864.32.

On BSE, so far 11.03 lakh shares were traded in the counter, compared with average daily volume of 2.88 lakh shares in the past one quarter. The stock hit a high of Rs 355 and a low of Rs 316 so far during the day. The stock hit a 52-week high of Rs 358.55 on 2 August 2016. The stock hit a 52-week low of Rs 206.20 on 25 February 2016. The stock had outperformed the market over the past 30 days till 9 August 2016, rising 26.09% compared with 1.66% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 38.14% as against Sensex's 9.72% rise.

The large-cap company has equity capital of Rs 132.29 crore. Face value per share is Re 1.

Motherson Sumi Systems said in a press release that its consolidated net profit rose 13% to Rs 303 crore on 16% increase in revenue to Rs 10352 crore in Q1 June 2016 over Q1 June 2015. The company said that the revenue of Rs 10352 crore was highest ever in a quarter.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 20% to Rs 928 crore in Q1 June 2016 over Q1 June 2015.

The company said that the growth was fuelled by strong performance across the major product divisions and geographies.

Motherson Sumi Systems is one of the world's fastest growing specialised automotive component manufacturing company for Original Equipment Manufacturers (OEMs). It is a joint venture between Samvardhana Motherson Group and Sumitomo Wiring Systems (Japan).

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