REUTERS - Auto parts maker Motherson Sumi Systems Ltd reported a 21 percent fall in quarterly profit, missing analyst estimates.
Profit fell to 3.47 billion rupees ($54.27 million) in its first quarter ended June 30, from 4.39 billion rupees a year earlier, the company said on Thursday (bit.ly/2ftV2wI).
Net sales outside India rose 25.5 percent to 113.70 billion rupees, while total expenses were up 26 percent.
Analysts had on average expected the company to post a profit of 4.76 billion rupees, according to Thomson Reuters data.
($1 = 63.9375 Indian rupees)
Reporting by Vishal Sridhar in Bengaluru