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Motherson Sumi's Q2 net up 25%

 

Motherson Sumi acquires Hungarian auto parts maker Abraham es Tarsa

  Helped by a strong double digit revenue growth, leading auto component maker Motherson Sumi has reported a 25 per cent jump in consolidated profit for the quarter ended September 30. Profit grew to Rs 361 crore against Rs 288 crore. Consolidated revenue grew 15 per cent to Rs 10,018 crore during the quarter.

 

The growth was fuelled by strong performance across the major product divisions and geographies, the company said. It added that it has trimmed its debt by 50 per cent to Rs 2,175 crore since March 31, 2016. 

"We continue to consolidate operational improvements in our performance, which is reflected in healthy growth of profits. The Q2 revenues are encouraging with 20 per cent growth in domestic sales," said Chairman V C Sehgal.