Motherson Sumi Systems Posts 39% Growth In Q2 PAT
Motherson Sumi Systems witnessed strong inflow of new orders which highlights customers’ continued faith in the company's execution capabilities and product quality
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Indian automotive components manufacturer Motherson Sumi Systems Ltd (MSSL) has registered 39 per cent growth in its PAT (Profit After Tax) for the second quarter ended 30 September, 2017 and stood at Rs 502 crore.
The company’s revenue, for the said quarter, went up from Rs 10,018 crore to Rs 13,338 crore, thereby posting a growth of 33 per cent. Motherson Sumi Systems’ revenues outside India grew by 36 per cent.
“This has been yet another excellent quarter for MSSL with an encouraging growth in both revenues and net profit”, said Vivek Chaand Sehgal, MSSL’s Chairman.
“We witnessed strong inflow of new orders which highlights customers’ continued faith in our execution capabilities and product quality. We are firmly on track to achieve our 2020 targets.”
The EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) increased 31 per cent, during the quarter July-September, 2017, at Rs 1,354 crore. The EBITDA, for Q2 FY17, was at Rs 1,035 crore.
Result Highlights Of H1 FY18 (April-September, 2017)
Motherson Sumi System’s revenue in India grew by 21 per cent during the first half of current fiscal year 2018. While the same outside India saw an increase of 30 per cent.
The company’s PAT went up by 37 per cent, and its EBITDA by 31 per cent.