Homegrown Tier 1 supplier, Motherson Sumi Systems, has reported strong revenues in the first half and second quarter of FY2019. The company has reported strong profits in H1 FY2019. 

The company’s financial reports show a consolidated revenue from operations of Rs 29,416.53 crore in the first half of FY2019, which effectively translates to the earning Rs 2,883.52 crore (+9.8%) more compared to H1 of FY2018. With Rs 1,113.83 crore, they company has registered an 18.4 percent growth in profits over the same period last year.

In Q2 FY2019  the company posted a healthy revenue of Rs 14,853.55 crore as against Rs 13,338.21 crore in Q2 FY2018, a growth of 11.36 percent. While the company had posted a profit of Rs 593.45 crore in Q2 FY2018, its profits in the current fiscal stood at Rs 495.48 crore, down by 16.5 percent.

Also read: Samvardhana Motherson plots turbocharged growth

VC Sehgal, chairman, Samvardhana Motherson Group: ‘Our best strategy has been not to have a strategy.’