Motherson Sumi net grows 21% in Q3

Auto component major Motherson Sumi Systems (MSSL) today reported 21 per cent increase in net profit to Rs 307 crore during the quarter ended December 31, as against Rs 254 crore posted in the same quarter last year.

Net revenue of the Delhi-based company grew to Rs 9,859 crore, a growth of 8 per cent as against Rs 9,149 crore posted in the same quarter last year.

The company also announced an update on 17 plants commissioned around the world, across its major product verticals, out of which seven have been completed.

"The new plant commissions are all close to the facilities of our customers, increasing our ability to support them where ever they need us. We are making many improvements in the design, construction and layout of each of them, to increase the efficiency and effectiveness of our production systems for the coming years", said Vivek Chaand Sehgal, Chairman, MSSL.