New Delhi, Aug 10 : Motherson Sumi Systems has announced an increase in its profit in April-June quarter that grew by 15.8 percent year-on-year to Rs.
439 crore. Automotive products manufacturer reported revenue for the quarter increased 15.5 percent to Rs. 10,450 crore on yearly basis with domestic business showing 19.1 percent growth and exports 15.7 percent, said the flagship company of Samvardhana Motherson Group.
Operating profit (EBITDA - earnings before interest, tax, depreciation and amortization) jumped 20.3 percent to Rs.
928 crore and margin expanded by 40 basis points to 8.9 percent on yearly basis. The company in a statement said that profit of Samvardhana Motherson Automotive Systems Group BV (SMRPBV) increased 33.33 percent year-on-year to 16 million euro and revenue grew by 11 percent to 1,109 million euro.
Also, the operating profit margin expanded by 40 basis points to 7.1 percent. Motherson Sumi said net debt increased by 7.7 percent (up 29 percent year-on-year) to Rs. 4,632 crore at the end of June 2016 from Rs. 4,301 crore in March quarter as SMRP BV raised 5.5 years bonds of USD 300 million at 4.875 percent per annum in June.
Source: ANI
