Motherson Sumi Systems Reports 12% Growth In Q4 Consolidated PAT
Autoparts maker Motherson Sumi Systems' Q4 consolidated revenues were up by 15 percent at Rs 11,100 crore when compared with Rs 9,663 crore during Q4 FY16.
Indian automotive components manufacturer Motherson Sumi Systems (MSSL) has reported 12 percent growth in its consolidated Profit after Tax (PAT) for the fourth quarter ended March 31, 2017 and stood at Rs 475 crore, informed the company in an official statement.
Talking about Motherson Sumi Systems' financial performance for the financial year 2017, its PAT increased by 20 percent and stood at Rs 1,554 crore as against Rs 1,292 crore during fiscal 2016. Its revenues went up to Rs 41,985 crore when compared with Rs 36,580 crore during FY16, thereby registering year-on-year growth of 15 percent.
“This is the second year of our 5-year plan for 2020 and we are closing it on an all-time high for MSSL. We see very exciting times ahead. SMR & SMP have seen strong customer orders, giving them a fantastic outlook. And our wiring harness division has been strengthened by recent acquisition of PKC Group," said Vivek Chaand Sehgal, MSSL’s Chairman.
"This brings great new opportunities for supporting the OEM’s around the world. We are deeply grateful to our customers for their continued trust in us and for their support in our journey towards our 2020 targets,” added Sehgal.
During fiscal 2017, the components manufacturer has won new orders worth Rs 29,425 crore, and has booked a total order of over Rs 94,900 crore at its subsidiary Samvardhana Motherson Automotive System Group.
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