Motherson Sumi Q1FY18 PAT tumbles 50.7% QoQ
DSIJ Intelligence / 10 Aug 2017
Motherson Sumi Systems Ltd. reported its results for the quarter ended June 30, 2017 in market hours today.
Motherson Sumi Systems Ltd. reported its results for the quarter ended June 30, 2017 in market hours today.
Total sales for this quarter, Q1FY18, came in at Rs. 13366.6 crore. This represents a 16.34 per cent sequential increase and 25.81 per cent YoY increase. This was primarily due to revenue from newly acquired PKC.
Operating profit (EBIT) for the recently concluded quarter amounted to Rs. 1140.92 crore and the EBIT margin stood at 8.54 per cent.
In terms of the bottom-line, the company reported a PAT figure of Rs. 347.32 crore which represents a sequential QoQ decline of 50.79 per cent and a YoY decline of 20.95 per cent. Profitability was impacted by one-time exceptional loss of Rs. 150.15 crore.
Motherson Sumi is a system solutions provider to automotive and other industries, offering services from design and prototyping to production and delivery of solutions across a range of products.
The company's stock which opened for trading at Rs. 329 on the BSE, has risen by 5.3 per cent after the results were declared and is currently trading around the Rs. 330.15 mark.
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