Read more about Motherson Sumi Systems shares zoom over 13% after 8-fold jump in Q4 on Business Standard. Shares of auto components major Motherson Sumi Systems Ltd on Wednesday jumped over 13 per cent after Q4 earnings
Auto components major Motherson Sumi Systems Ltd on Wednesday reported a nearly eight-fold jump in consolidated net profit at Rs 1,018.69 crore in the fourth quarter ended March 31 riding on robust sales. The company had posted a consolidated net profit of Rs 135.66 crore in the same quarter previous fiscal, Motherson Sumi Systems Ltd (MSSL) said in a regulatory filing. Consolidated total revenue from operations during the period under review stood at Rs 16,971.91 crore as against Rs 14,434.48 crore in the year-ago quarter, it added. The company said its consolidated revenues in the fourth quarter of the financial year 2020-21 were more than pre-COVID levels as industrial activity picked up globally and despite multiple headwinds such as chip shortage, higher commodity costs, it has sustained profitability.
Indian shares ended little changed for a second straight session on Wednesday as investors refrained from making big bets due to concerns over high valuations following a recent rally.
/PRNewswire/ The automotive mirror system market is set to grow by USD 22.72 million, progressing at a CAGR of almost 2% during 2021-2025. The report offers.