You are here: Home » Companies » Results
Business Standard

Motherson Sumi's Q4 consolidated net profit up 12%

Its consolidated net profit during quarter under review increased to Rs 475 cr from Rs 425 cr in FY

IANS  |  Mumbai 

Source: Wikipedia
Source: Wikipedia

Specialised auto component manufacturer Systems (MSSL) on Friday reported an increase of 12 per cent in its consolidated net profit for the fourth quarter (Q4) of 2016-17.

According to the company, its consolidated net profit during the quarter under review increased to Rs 475 crore from Rs 425 crore in the corresponding period of 2015-16.

Systems' consolidated revenue during the quarter under review rose by 15 per cent to Rs 11,100 crore from Rs 9,663 crore.

On a full financial year 2016-17 basis, the company reported that its cnsolidated net profit increased by 20 per cent to Rs 1,554 crore from Rs 1,292 crore in 2015-16.

Systems' revenue during the fiscal under review edged higher by 15 per cent to Rs 41,985 crore from Rs 36,580 crore.

"We are thrilled with the for the financial year 2016-17. This is the second year of our five-year plan for 2020 and we are closing it on an all-time high for MSSL. We see very exciting times ahead," said Vivek Chaand Sehgal, MSSL's Chairman.

"SMR and SMP have seen strong customer orders, giving them a fantastic outlook. And our wiring harness division has been strengthened by recent acquisition of PKC Group. This brings great new opportunities for supporting the OEM's around the world."

First Published: Fri, May 19 2017. 17:07 IST