A worker holds a wire harness for a photograph at the Motherson Sumi Systems Ltd. wiring harness plant in Faridabad, India. (Photographer: Brent Lewin/Bloomberg)

Motherson Sumi Aims For Double-Digit Sales Growth After Q3 Profit Dip

Motherson Sumi is eyeing double-digit sales growth in domestic market, as it works on commissioning its plants in India, U.S., South Korea, Germany under progress, and renewed focus on automotive.

Increasing content per car and supplying a large number of products to the industry is aiding growth, Vivek Chaand Sehgal, chairman of the auto component maker, told BloombergQuint in a post earnings interaction.

The company reported an unexpected 12 percent plus dip in net profit for quarter-ended December, even as its rose 36 percent.

Key Q3 Financial Highlights:

  • Revenue up 35.9 percent to Rs 14,398 crore
  • Net profit down 12.4 percent to Rs 364.5 crore
  • Earnings before interest, tax, depreciation and amortisation up 14.9 percent to Rs 1,259.6 crore.
  • Ebitda margin at 8.7 percent versus 10.4 percent.

Watch the full interaction here: