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Motherson Sumi March-quarter profit rises 20 percent, beats estimates
May 19, 2017 / 7:08 AM / 4 months ago

Motherson Sumi March-quarter profit rises 20 percent, beats estimates

Employees of Motherson Sumi Systems Limited, work on a car wiring assembly line inside a factory in Noida on the outskirts of New Delhi, April 28, 2016. REUTERS/Anindito Mukherjee/Files

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

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