Motherson Sumi Systems Q2 net profit falls 7.6 pc to Rs 457.82 cr

Auto components major Motherson Sumi Systems Ltd on Monday reported a 7.6 per cent decline in consolidated net profit to Rs 457.82 crore in the second quarter ended September 30.

The company had posted a consolidated net profit of Rs 495.48 crore in the corresponding period of the previous financial year, Motherson Sumi Systems Ltd (MSSL) said in a regulatory filing.

Revenue from operations during the period under review stood at Rs 15,708.99 crore as against Rs 14,853.55 crore in the year-ago quarter, a growth of 5.76 per cent, it added.

Commenting on results, MSSL Chairman Vivek Chaand Sehgal said the company was able to achieve strong performance under the current challenging domestic and global market conditions.

"Our teams are working very hard to stabilise the operations in the new plants and to maintain the growth and profitability," he said.

Revenue of standalone business dropped 18 per cent to Rs 1,593 crore as compared to Rs 1,950 crore in the year-ago quarter due to lower demand in the domestic market, the company said.

Sehgal said the company has a healthy order book with strong inflow of new orders from customers. As on September 30, 2019, order book at the level of Samvardhana Motherson Automotive Systems Group (SMRP BV) stood at Rs 1,43,851 crore (18.4 billion euro), the company said.