Motherson Sumi System Falls After Q1 Profit Misses Estimate

Shares of Motherson Sumi Systems Ltd. dropped as much as 7.9 percent after the automobile part maker reported net profit decline of 8.25 percent in the April-June period, missing average analyst estimates.

The company reported a net profit of Rs 278 crore for the three-month period, which was lower than the Rs 474 crore estimated by analysts according to Bloomberg.

The company's revenue rose 25.72 percent year-on-year to Rs 13,138 crore, against an estimate of Rs 12,314 crore.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 29 percent to Rs 1,196.42 crore, from Rs 928.16 crore in the same period last year. EBITDA margin expanded 253 basis points to 9.16 percent, as opposed to 8.88 percent in the previous year.