Motherson Sumi Systems Q1 Net Down by 42% to Rs 361 crore

Motherson Sumi Systems Limited (MSSL) has announced financial results for its fiscal 2019-20 first quarter, which ended on 30th June 2019. Consolidated net profit down by 41.67 percent to Rs 360.64 crore for the quarter ended June 30, 2019, compared to Rs 618.35 crore during the same period of last year.

Commenting on results, Mr. Vivek Chaand Sehgal, Chairman, MSSL said “Amidst challenging global market conditions, the Board recognized and appreciated the efforts of the teams who have worked very hard. The Greenfield plants of SMP are showing slow continuous improvement and we expect the trend to continue provided there is no further global slow down. We are pleased with the continued robust performance of PKC Group as well as other businesses. We continue to focus on managing cash flows and debt, and in improving operational efficiency. We thank our customers for their continued trust in us.” 

The company posted quarterly consolidated revenues of INR 16,557 Cr. and consolidated EBITDA of INR 1,277 Cr. These results compare to revenues of INR 14,563 Cr. and EBITDA of INR 1,422 Cr in the same quarter in the previous year.