Motherson Sumi Q3 net jumps over 2-fold to Rs 250 cr

Company had posted a consolidated net profit of Rs 103 crore in the same period last fiscal

Auto component maker Motherson Sumi Systems Ltd (MSSL) today reported almost two-and-half fold increase in its consolidated net profit at Rs 249.60 crore for the third quarter ended December 31, 2013.

The company had posted a consolidated net profit of Rs 103.02 crore in the same period last fiscal, MSSL said in a filing to the BSE.

Net sales during the quarter under review stood at Rs 7,889.83 crore as against Rs 6,547.9 crore in the year-ago period.

The company said it continues to get additional orders and is expanding its operations globally in line with requirements of its customers.

During the quarter, the company had a foreign exchange gain of Rs 32.26 crore on long-term loans, it said.

Revenue growth during the quarter was led by group firm Samvardhana Motherson Peguform which posted sales of Rs 4,091 crore. The group's sales in India was at Rs 1,146 crore while that of outside the country was at Rs 2,653 crore.

Shares of MSSL were trading at Rs 194.80 per scrip in the afternoon trade, up 8.01% from the previous close on the BSE.