The same was reported at Rs 294.15 crore in the year-ago period.
The revenue from operations too, surged to Rs 27,668.35 crore in the July-September quarter versus Rs 23,294.33 crore reported in the corresponding quarter of the previous fiscal year. This is an increase of nearly 19% YoY.
On a quarter-on-quarter basis, the company’s consolidated net profit has fallen by Rs 148.37 crore or 13.5%.
The company informed that further diversification was achieved with new products and increased customer penetration and the automotive segment booked a business of $87.7 billion on 30th Sep 2024, compared to $83.9 billion on 31st March 2024.
5 out of 19 Greenfields have come on stream, and 8 more facilities are expected to operationalise in H2FY25.“Our prudent management of the leverage ratio has positioned us well for sustainable growth. This strategic approach ensures that we maintain a healthy balance sheet while continuing to invest in the future. Our automotive booked business is USD 88 billion approx. and has been growing consistently, reflecting the trust our customers have in us. Our non-automotive businesses have been growing consistently, contributing to overall growth with stability and diversification. With the support of our customers and the hard work and dedication of our global teams, we have built a resilient organisation that is ready for continued success,’ said Vivek Chaand Sehgal, Chairman of Motherson.Also read: JTL Industries among 3 stocks to trade ex-split tomorrow. Do you own?
Post the Q2 results, domestic brokerage firm Nuvama has reiterated its buy rating on the stock with a target price of Rs 195, down from Rs 220 earlier.
“Q2 revenue grew 18% YoY to Rs 27,810 crore (our estimate: Rs 27,160 crore), led by inorganic initiatives (Rs 62 bn) and better content. EBITDA surged 30% YoY to Rs 24.5 bn, slightly below our estimate of Rs 25.2 bn, due to lower-than-expected margin in wiring harness and modules/polymer divisions,” said Nuvama in its report.
However, the domestic brokerage firm said that it is constructive on the company’s prospects on the back of its strong management capabilities, inorganic initiatives, pending order book and increasing content.
The shares of Samvardhana Motherson International closed 4.9% lower at Rs 166.20 on the BSE on Tuesday.
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