Motherson Sumi Systems jumped 7.62% to Rs 194.10 at 12:59 IST on BSE after consolidated net profit surged 143% to Rs 249.60 crore on 20.49% growth in sales to Rs 7890 crore in Q3 December 2013 over Q3 December 2012.
The Q3 result hit the market during trading hours today, 31 January 2014.
Meanwhile, the S&P BSE Sensex was up 22.97 points or 0.11% at 20,521.22.
On BSE, so far 3.90 lakh shares were traded in the counter as against average daily volume of 66,942 shares in the past one quarter.
The stock hit a high of Rs 202.60 and a low of Rs 182 so far during the day. The stock had hit a record high of Rs 218 on 9 January 2014. The stock had hit a 52-week low of Rs 115.77 on 15 April 2013.
The stock had outperformed the market over the past one month till 30 January 2014, sliding 2.28% compared with the Sensex's 3.05% fall. The scrip had also outperformed the market in past one quarter, advancing 4.98% as against Sensex's 2.55% fall.
The large-cap company has equity capital of Rs 88.19 crore. Face value per share is Re 1.
Motherson Sumi Systems said that it has reported its best ever performance in Q3 December 2013 in terms of revenue, EBITDA, PBT and PAT.
The company continues to get additional orders and expand its operations globally in line with requirements of its customers, Motherson Sumi Systems said in a statement.
There was a foreign exchange (forex) gain of Rs 32.26 crore on long term loans in Q3 December 2013 while there was a forex loss of Rs 65.84 crore on long term loans in Q3 December 2012.
Commenting on company's financial performance, Mr. V.C. Sehgal, Chairman, Motherson Sumi Systems said, "The company has delivered its best ever results in revenues as well as operating margins for a quarter. This is exceptional performance both in domestic and overseas businesses in current market conditions. SMR and SMP continue to grow and deliver improved results. We are moving forward in the right direction towards achieving our targets".
Motherson Sumi Systems supplies components, modules and systems to the automotive sector. Its business portfolio encompasses electrical distribution system (EDS), polymer products and complete module solutions. It is the largest supplier of EDS to the Indian automotive industry.
Powered by Capital Market - Live News
