Moneycontrol
Nov 10, 2017 03:41 PM IST | Source: Moneycontrol.com

Motherson Sumi Q2 profit jumps 24% to Rs 593 cr, but operating numbers miss estimates

Revenue from operations during the quarter grew by 32.7 percent year-on-year to Rs 13,431 crore, the company said in its filing.

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Auto ancillary products maker Motherson Sumi Systems has reported better-than-expected profit growth of 23.7 percent for July-September quarter, but operational numbers missed estimates on Friday.

Consolidated profit increased to Rs 593.4 crore in quarter ended September 2017, from Rs 479.8 crore in year-ago. It was estimated at Rs 498 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18.

Revenue from operations during the quarter grew by 32.7 percent year-on-year to Rs 13,431 crore, the company said in its filing.

Operating profit grew by 26 percent to Rs 1,251 crore with margin shrinking by 50 basis points to 9.3 percent in Q2 YoY, which were below CNBC-TV18 poll estimates of Rs 1,328 crore and 9.8 percent, respectively.

At 12:28 hours IST, the stock price was quoting at Rs 354.85, down Rs 6.35, or 1.76 percent on the BSE.

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