November 10, 2017 / 7:38 AM / 8 months ago

Motherson Sumi Systems posts 21 percent rise in Q2 profit

(Reuters) - Auto parts maker Motherson Sumi Systems Ltd (MOSS.NS) reported a 21 percent rise in quarterly profit, missing analysts’ estimate.

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

Net profit for the three months ending Sept. 30 rose to 4.36 billion rupees from 3.61 billion rupees a year earlier, the company said in a filing on Friday.

Net sales outside India rose nearly 36 percent to 115.66 billion rupees.

Analysts on average had expected the company to post a profit of 5.04 billion rupees, according to Thomson Reuters data.

Reporting by Vishal Sridhar in Bengaluru; Editing by Sunil Nair

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