Motherson Sumi falls 12% in three days post December quarter results

The stock dipped 6% to Rs 321 in intra-day trade, extending its past two days 6% fall on BSE.

Motherson Sumi Systems has fallen 6% to Rs 321 on BSE in intra-day trade, extending its past two days 6% decline after the auto ancillary company reported a weak operational performance in December 2017 (Q3FY18) quarter.

The company’s consolidated net profit grew 5% to Rs 4.37 billion due to higher depreciation and tax outgo. Total sales during the quarter rose 36% to Rs 143 billion over the previous year quarter. EBITDA (earnings before interest, tax, depreciation and amortization) margin contracted 120 bps to 9.7% from 10.9%.

“MSL’s operating performance was impacted largely across its business in Q3FY18. This