Business

Motherson Sumi Systems quarterly profit rises to Rs.389 crore

Auto parts maker Motherson Sumi Systems Ltd posted a 6.7 % rise in third-quarter profit on Monday, helped by a strong order book. Net profit for the quarter ended December 31, 2018 was ₹389 crore ($54.65 million), compared with ₹364 crore, the Noida-headquartered company said.

The net profit figure missed analysts’ average estimate of a profit of ₹453 crore, according to Refinitiv Eikon data.

Gross sales in the quarter rose 13.7% to ₹16,234 crore.

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