Motherson Sumi Wiring India Ltd. has clocked its highest ever quarterly revenue and operational profitability in the fiscal third quarter, even as its bottom line met estimates.
Net profit of the Noida-based auto components firm rose 58.1% over the previous year to Rs 167.90 crore in the three months ended Dec. 31, 2023, on the back of revenue that jumped 25.5% to Rs 2,117.3 crore. Analysts polled by Bloomberg had estimated the top and bottom line at Rs 2,104.6 crore and Rs 155.9 crore, respectively.
Motherson Sumi Q3 Results: Key Highlights (YoY)
Revenue up 25.5% at Rs 2,117.3 crore (Estimate: Rs 2,117.3 crore)
EBITDA up 46.4% at Rs 262 crore (Estimate: Rs 248.1 crore)
EBITDA margin up 176 bps at 12.4% (Estimate: 11.80%)
Net profit up 58.1% at Rs 167.90 crore (Estimate: Rs 155.9 crore)
The company continues to remain debt-free
One basis point is one-hundredth of a percentage point.
“These strong quarterly numbers are the result of customer trust and our operational efficiencies,” Vivek Chaand Sehgal, chairman at Motherson Sumi, said in a statement. “We remain focused on delivering high-quality products and solutions to our customers and supporting them in their plans. We'll continue to invest in capacities to meet future demand.”
On Wednesday, Motherson Sumi shares rose 2.41% to Rs 65.10 apiece on the BSE even as the benchmark Sensex ended the day 0.86% higher at 71,752.11 points.
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