Noida (Uttar Pradesh) [India], Nov 11: Specialised automotive component maker Motherson Sumi Systems Ltd (MSSL) on Monday reported four percent growth in the net profit at Rs 385 crore in the July to September quarter of the current fiscal year compared to Rs 371 crore in the year-ago period.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) climbed up to Rs 1,355 crore, up five percent from Rs 1,290 crore in Q2 FY19 while revenues increased by six per cent to Rs 15,709 crore from Rs 14,854 crore. “Our teams are working very hard to stabilise the operations in the new plants and to maintain the growth and profitability,” said Chairman Vivek Chaand Sehgal in a statement.
MSSL is one of the world’s leading specialised automotive component manufacturing companies for original equipment manufacturers. It was established in 1986 as a joint venture with Sumitomo Wiring Systems.
With a diverse global customer base of nearly all leading automobile manufacturers globally, the company has a presence in 41 countries across five continents.
MSSL is currently the largest auto ancillary in India and among the Fab 50 companies of India by Forbes magazine. It is the flagship company of Motherson Group which is ranked 21st among global automotive suppliers by Automotive News.