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Motherson Sumi Systems dips on profit booking post Q1 results

In past one month, the stock had outperformed the market by surging 27% as compared to 3.5% rise in the Sensex.

SI Reporter  |  Mumbai 

Motherson Sumi Systems (MSSL) plunged 10% to Rs 316 on the BSE on profit booking after the company reported 13% year-on-year (YoY) jump in consolidated net profit of Rs 303 crore for the quarter ended June 30, 2016 (Q1FY17).

The company, a specialized automotive component manufacturing company for OEMs, had recorded a profit of Rs 267 crore in the year ago quarter. the company recorded its highest ever sales of Rs 10,352 crore, up 16% on YoY basis. The EBITDA (earnings before interest, depreciation and taxes) profit increased 20% YoY at Rs 920 crore, while margin improved to 8.96% ...

First Published: Wed, August 10 2016. 12:45 IST

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