Samvardhana Motherson int'l Q4 net profit jumps five-fold to Rs 654 cr

Auto component major Samvardhana Motherson International on Friday said its consolidated net profit surged over five-fold to Rs 654 crore for the fourth quarter ended March 2023, aided by robust sales.

The company reported a net profit of Rs 122 crore in the January-March quarter of 2021-22.

Its total revenue from operations rose to Rs 22,477 crore in the fourth quarter compared to Rs 17,241 crore in the year-ago period.

For the year ended March 31, 2023, the company said its net profit rose to Rs 1,496 crore against Rs 874 crore in FY22.

The total revenue from operations increased to Rs 78,701 crore last fiscal compared to Rs 63,774 crore in 2021-22.

"With the support of our customers and the hard work of our teams, the company has ended the year with strong performance," Motherson Chairman Vivek Chaand Sehgal said.

The robust booked business of nearly USD 70 billion is a reflection of customer trust in Motherson, he added.

The company said its board recommended a dividend of Re 0.65 per share for the financial year ended March 31, 2023.

Shares of the company ended 1.14 per cent down at Rs 80.78 apiece on the BSE.