REUTERS - India-based auto parts maker Motherson Sumi Systems Ltd posted a better-than-expected 20 percent growth in March-quarter consolidated net profit, buoyed by higher sales in foreign markets.
Consolidated net profit stood at 7.06 billion rupees ($108.81 million) in the quarter ended March 31, compared with 5.87 billion rupees a year earlier.
Analysts on average had expected a consolidated net profit of 4.70 billion rupees, according to Thomson Reuters data.
Motherson Sumi’s net sales outside India rose over 14 percent to 94.76 billion rupees.
($1 = 64.8825 rupees)
Reporting by Krishna V Kurup; Editing by Sherry Jacob-Phillips