Motherson Sumi net profit drops 80% to Rs 226 cr in Q3
ROADS & HIGHWAYS

Motherson Sumi net profit drops 80% to Rs 226 cr in Q3

Motherson Sumi Systems Ltd (MSSL), an auto component company, reported a 79.96% decline in its consolidated net profit to Rs 225.95 crore for the third quarter ended December 31.

In the same period the previous fiscal, the company had made a consolidated net profit of Rs 1,127.83 crore.

Motherson Sumi Systems Ltd (MSSL) said in a statement that total revenue from operations was Rs 16,117.51 crore in the quarter under review, compared to Rs 17,092.44 crore the year before.

These results demonstrate the company's resiliency and the efforts of teams around the world in the face of difficult market conditions.

In the quarter, the company has received the final National Company Law Tribunal (NCLT) approval, which now gives effect to the proposed re-organisation and lays the path for future growth through Motherson 2.0.

MSSL reported a net profit from continuing operations of Rs 56.44 crore in the third quarter, down from Rs 108.77 crore the previous quarter.

In the third quarter, total revenue was Rs 1,321.38 crore, compared to Rs 1,126.90 crore in the December quarter of 2020-21.

On the Bombay Stock Exchange (BSE), the company's shares were trading 2.3% lower at Rs 176.25 per share.

The Motherson Group's flagship company is Motherson Sumi Systems Limited (MSSL). It was founded in 1986, and since 1993, it has been listed on the Indian stock exchange. The company is a specialised full-system solutions provider with customers in Asia, Europe, North America, South America, Australia, and Africa in the automotive and other industries.

Image Source

Also read: Berger Paints net profit declines 8% to Rs 253 cr in Q3 FY22

Motherson Sumi Systems Ltd (MSSL), an auto component company, reported a 79.96% decline in its consolidated net profit to Rs 225.95 crore for the third quarter ended December 31. In the same period the previous fiscal, the company had made a consolidated net profit of Rs 1,127.83 crore. Motherson Sumi Systems Ltd (MSSL) said in a statement that total revenue from operations was Rs 16,117.51 crore in the quarter under review, compared to Rs 17,092.44 crore the year before. These results demonstrate the company's resiliency and the efforts of teams around the world in the face of difficult market conditions. In the quarter, the company has received the final National Company Law Tribunal (NCLT) approval, which now gives effect to the proposed re-organisation and lays the path for future growth through Motherson 2.0. MSSL reported a net profit from continuing operations of Rs 56.44 crore in the third quarter, down from Rs 108.77 crore the previous quarter. In the third quarter, total revenue was Rs 1,321.38 crore, compared to Rs 1,126.90 crore in the December quarter of 2020-21. On the Bombay Stock Exchange (BSE), the company's shares were trading 2.3% lower at Rs 176.25 per share. The Motherson Group's flagship company is Motherson Sumi Systems Limited (MSSL). It was founded in 1986, and since 1993, it has been listed on the Indian stock exchange. The company is a specialised full-system solutions provider with customers in Asia, Europe, North America, South America, Australia, and Africa in the automotive and other industries. Image Source Also read: Berger Paints net profit declines 8% to Rs 253 cr in Q3 FY22

Next Story
Products

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Next Story
Infrastructure Energy

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

Next Story
Infrastructure Energy

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation  and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India.   The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?