Motherson Sumi Systems Ltd Revenues Up By 6% On YOY
Motherson Sumi Systems Limited (MSSL) has announced financial results for its fiscal 2019-20 second quarter, which ended on 30th Sep 2019.
The Overall revenue grew by 6 % and PAT grew by 4% compared with the same period last year.
The PKC Group delivers excellent performance with a 12% growth in revenues and a 73% growth in profit.
SMRP BV with a 15% growth in revenues and 11% growth in EBITDA despite continued challenges in the recent setup greenfield plants.
The standalone business demonstrates good cost control while revenue dropped by 18% due to lower demand in the domestic market.
Robust Order book of Rs. 143,851 crores (Euro 18.4 billion) at SMRP BV level
Commenting on results, Vivek Chaand Sehgal, Chairman, MSSL said “The board specially thanked our associates and teams in all of our operating businesses for giving a strong performance under the current challenging domestic and global market conditions. Our teams are working very hard to stabilize the operations in the new plants and to maintain growth and profitability. We thank our customers for reposing confidence in us which is reflected in the strong inflow of new orders and a healthy order book.”
