Motherson Sumi Wiring India posts Q2FY24 net profit of Rs 156 crore, marking 34% YoY growth

Motherson Sumi Wiring India Limited (MSWIL)  reported a net profit of Rs 156 crore during Q2 FY24, translating into 34% growth on a year-on-year basis. The company's revenues, on the other hand, jumped by 15% year-on-year to Rs 2105 crore during the same period.

Commenting on the development, Vivek Chaand Sehgal, Chairman, Motherson Sumi Wiring India Ltd., said, "The Indian automotive industry continues to grow at a healthy rate. The company's manufacturing expertise remains a crucial driver of its performance, and it is committed to enhancing its operational efficiencies
further. Additionally, the company will continue to expand its capacities aligned to its customers' upcoming launches across all powertrains.”

Motherson Sumi Wiring India is a full-system solutions provider to OEMs in the wiring harness segment. It is a joint venture between Samvardhana Motherson
International Limited (SAMIL) [formerly Motherson Sumi Systems Limited] and Sumitomo Wiring Systems, Ltd. (SWS).