Motherson Sumi, the automotive company, shared Q3 reports on Monday. According to the reports, the company has 1.19 per cent dip in profit, aggregating net profits to INR 554.99 crore.
In a filing, the company revealed that its revenue from operations has risen to INR 16,233.65 crore from the earlier INR 14,271.45 crore, earned in Q3 FY18.
On this, VC Sehgal, Chairman of MSSL, said All of our operating businesses have performed well under current market conditions. With the start of production at Tuscaloosa in this quarter, all the key greenfield projects are now completed. (Source: ET news)
In the cession of FY18, the automotive witnessed a 6.7 per cent surge in the total profit following the tax, amounting to INR 389.06 crore. In the current months review, EBITDA of the company witnessed a high leap of 13 per cent, amounting to INR 1,415 crore from the earlier INR1,249 crore in the same quarter FY18.
In Quarter 3 of FY17, the company reported a profit of INR 561.71 crore. In the second half of Monday, the companys stocks were upward by 1.7 per cent at INR 137.35 (BSE).