Motherson Sumi Systems reported a 289% YoY rise in its consolidated net profit to Rs 713.6 crore for the quarter ended March, which was sharply higher than analysts' estimates.
The company's consolidated total revenue from operations jumped 17.6% YoY to Rs 16,971.9 crore, which was slightly higher than analysts' estimates.
The company's board also approved a final dividend worth Rs 1.5 per share for the financial year ended March 2021.
Revenues of the standalone entity rose 28% on year to Rs 1,269 crore during the quarter. The automotive interior and exterior business under Samvardhana Motherson Peguform saw its revenues rise 16% on year to Rs 8,746.7 crore.
Similarly, the wiring harnessing business under PKC saw its revenues in the reported quarter jump 30% on a YOY basis to Rs 2,753.82 crore.
The company reported a consolidated operating profit of Rs 1,722 crore, which was 38.7% higher than the YOY quarter. Operating margin in the quarter expanded 150 basis points on year to 10.1%.
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