Shares of Motherson Sumi Systems Ltd. gained as much as 8.8 percent after its profit surged in the July-September quarter.
Net profit rose 26.2 percent to Rs 479.85 crore, compared to Rs 380.32 crore in the corresponding period last year, according to the company's filing on the exchanges.
Net revenue grew 14.3 percent to Rs 10,332.59 crore, compared to Rs 9,038.78 crore in the same period last financial year.
Earnings before interest, tax, depreciation and amortization of the automotive parts manufacture increased 14.6 percent to Rs 1,006.75 crore as against Rs 878.42 crore last year. Margins on earnings before interest, tax, depreciation and amortization remained steady at 9.7 percent which was also the figure in the second quarter last year.
The company's managed to cut its net debt by half since the start of the financial year. As of September 30, 2016, the net debt figure stood at Rs 2,175 crore compared to Rs 4,301 crore as of March 31, 2016.
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