The Tier 1 says despite the current market conditions it's revenues grew by 6%, while profit was up by 4%
11 Nov 2019 | 8770 Views | By Autocar Professional Bureau
Motherson Sumi Systems (MSSL) today announced its financial results for Q2 FY 2020. The company's overall revenue came at Rs 15,709 crore, up 6 percent and its PAT at Rs 385 crore, up 4 percent YoY.
The company attributed the growth to PKC Group which saw 12 percent growth ...
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Motherson Sumi Systems (MSSL) today announced its financial results for Q2 FY 2020. The company's overall revenue came at Rs 15,709 crore, up 6 percent and its PAT at Rs 385 crore, up 4 percent YoY.
The company attributed the growth to PKC Group which saw 12 percent growth in revenue and 73 percent growth in profit. The SMRP BV business saw 15 percent growth in revenues and 11 percent growth in EBITDA despite continued challenges in the recently setup greenfield plants.
In terms of standalone business the company says it has undertaken cost control measures which helped limit losses. MSSL says the SMRP BV has a robust order book of Rs 143,851 crore (Euro 18.4 billion).
Commenting on results, Vivek Chaand Sehgal, chairman, MSSL said: “The board specially thanked our associates and teams in all of our operating businesses for giving strong performance under the current challenging domestic and global market conditions. Our teams are working very hard to stabilise the operations in the new plants and to maintain the growth and profitability. We thank our customers for reposing confidence in us which is reflected in strong inflow of new orders and a healthy order book.”