This is the first time in the company's history that it achieved revenues of more than Rs 10,000 crore in a quarter. MSSL’s standalone revenues for the quarter also grew by almost 14%.
18 May 2016 | 2546 Views | By Autocar Pro News Desk
Motherson Sumi Systems (MSSL) reported a growth of nearly 22% in the consolidated net profit for Q4 of 2015-16 at Rs 414 crore along with an 8% rise in the consolidated revenues which stood at Rs 10,068 crore in the quarter.
This is the first time in the ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
Motherson Sumi Systems (MSSL) reported a growth of nearly 22% in the consolidated net profit for Q4 of 2015-16 at Rs 414 crore along with an 8% rise in the consolidated revenues which stood at Rs 10,068 crore in the quarter.
This is the first time in the company's history that it achieved revenues of more than Rs 10,000 crore in a quarter. MSSL’s standalone revenues for the quarter also grew by almost 14%.
Commenting on the quarterly performance, Vivek Chaand Sehgal, chairman, Motherson Sumi said: “We are very grateful for the trust our customer have reposed in us which has helped us in setting up a new benchmark of more than Rs 10,000 crore in revenues in a quarter.”
For the whole fiscal year 2015-16, MSSL posted consolidated revenues of Rs 38,033 crore as against revenues of Rs 34,490 crore for the previous financial year. While the net profit rose to Rs 1,274 crore against Rs 862 crore in 2014-15.
"It has been a good year to further enhance our performance. We are seeing huge capacity expansion at SMP (Samvardhana Motherson Peguform) at the request of customers. Operational improvements have been put in place and we have an exciting innovation pipeline, across MSSL companies," Sehgal said.