Motherson Sumi Systems reports Q3 FY19' profit of Rs 389 crore, up 7%

Highlights of the quarter for the company includes starting commercial operations of its largest plant at Tuscaloosa, USA.

Autocar Professional BureauBy Autocar Professional Bureau calendar 11 Feb 2019 Views icon8676 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Motherson Sumi Systems reports Q3 FY19' profit of Rs 389 crore, up 7%

Homegrown component major, Motherson Sumi Systems reported its Q3 FY2019 results, which saw the company reporting its highest ever quarterly revenue of Rs 16,234 crore, up 14 percent. The EBITDA was 13 percent at Rs 1,415 crore and PAT at Rs 389 crore, up 7 percent.

Highlights of the quarter for the company includes starting commercial operations of its largest plant at Tuscaloosa, USA; construction of four plants (3 in India & 1 in Thailand) is almost completed with trial runs in progress. This the company says will see its major capex on the new greenfield projects getting over.

Commenting on the results, V C Sehgal, chairman, MSSL said “All of our operating businesses have performed well under current market conditions. With the start of production at Tuscaloosa in this quarter, all the key greenfield projects are now completed. We wish all the very best to our team, as they continue to handle the ramp-up challenges in the biggest greenfield plants setup by us. We are proud of our teams and their hard work for successfully setting up 33 new plants in last 4 years to create capacities for the orders given to us by the customers.”

Also read: Interview: VC Sehgal: ‘Our best strategy has been not to have a strategy.’

RELATED ARTICLES
Bajaj Auto launches new Chetak 3503 at Rs 110,000

auther Autocar Professional Bureau calendar29 Apr 2025

The Chetak 3503, with a claimed range of 155km, 63kph top speed and a slower charging time than its 35 Series siblings, ...

Hyundai walks the eco talk with biogas plant, material recovery plant in Gurugram

auther Autocar Professional Bureau calendar22 Apr 2025

Operational since October 2022, the facility targets sustainable waste management in Gurugram by undertaking scientific ...

Rajiv Bajaj reappointed MD and CEO of Bajaj Auto for five-year term

auther Autocar India calendar19 Mar 2025

Bajaj Auto’s Board of Directors has approved the re-appointment of Rajiv Bajaj as the company’s MD and CEO for another f...