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Auto components maker Motherson Sumi Wiring India Ltd on Monday reported 21 per cent increase in net profit at Rs 148.87 crore for June quarter FY25 riding on strong revenue growth. The company had logged a net profit of Rs 123.13 crore in the same quarter last fiscal, Motherson Sumi Wiring India Ltd (MSWIL) said in a regulatory filing. Total revenue from operations in the period under review stood at Rs 2,184.84 crore as against Rs 1,871.84 crore in the year-ago period. Total expenses were higher at Rs 1,991.46 crore as compared to Rs 1,706.25 crore. MSWIL said its strong revenue growth year-on-year is mainly supported by increased volumes and content on account of automotive megatrends. Performance remained resilient despite the transitory impact of higher raw material prices and startup costs mitigated with operational efficiencies, it added. MSWIL Chairman Vivek Chaand Sehgal said,"The company remains committed to understanding and staying aligned with industry trends and ..
Auto components maker Motherson Sumi Wiring India Ltd on Thursday reported a 38.3 per cent rise in net profit to Rs 191.44 crore in the fourth quarter ended March 2024. The company had posted a net profit of Rs 138.47 crore in the same quarter a year ago, Motherson Sumi Wiring India said in a regulatory filing. Consolidated total revenue from operations in the quarter under review was Rs 2,232.67 crore as against Rs 1,871.96 crore in the corresponding period previous fiscal, it added. Total expenses in the fourth quarter were higher at Rs 1,986.54 crore as compared to Rs 1,698.5 crore in the same period a year ago. The board has recommended a dividend of 80 paise per equity share of face value Re 1 for the financial year ended March 31, 2024, subject to approval of the shareholders at the ensuing annual general meeting, it added. For the fiscal ended March 31, 2024, net profit was Rs 638.3 crore over Rs 487.04 crore in the preceding year, the company said. In FY24, consolidated t
Auto components maker Samvardhana Motherson International Ltd on Monday said it will acquire assets and shares of Germany's Dr Schneider Group entities at an overall enterprise value of about 118.3 million euros (over Rs 1,070 crore). The company through its wholly-owned arm Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has entered into an agreement to acquire assets and shares of the Dr Schneider Group entities from the insolvency administrator, Dr Joachim Exner, the company said in a regulatory filing. Dr Schneider Group is a manufacturer of high-end, innovative, and integrated electronic interior polymer components and systems such as smart surfaces and lighting modules. It is a technology leader in air-vents, decorative interior polymer components with illumination and has a strong presence in premium vehicles. It employs around 4,500 people in seven facilities across five countries (Germany, Spain, Poland, USA, China), it added. On the cost of acquisition, the ...