+
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
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?