The consolidated net profit for the period came in at Rs 994 crore, up from Rs 601 in the year-ago period.
13 Aug 2024 | 3871 Views | By Autocar Pro News Desk
Auto component major Samvardhana Motherson International Ltd saw its net profit for the first quarter jump 65% on a year-on-year basis, driven by robust growth in topline and profitability.
The consolidated net profit for the period came in at Rs 994 crore, up from Rs 601 crore in the ...
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Auto component major Samvardhana Motherson International Ltd saw its net profit for the first quarter jump 65% on a year-on-year basis, driven by robust growth in topline and profitability.
The consolidated net profit for the period came in at Rs 994 crore, up from Rs 601 crore in the year-ago period. EBITDA, operating profit rose 44% to Rs 2,785 crore. Samvardhana’s revenue from operation grew 29% on year to Rs 28,868 crore.
“The company has delivered robust quarterly performance despite flat industry volumes. All announced acquisitions have been successfully integrated and have started to contribute positively; their full potential will be realised in the coming months,” Chairman Vivek Chaand Sehgal said.
The company recorded growth across all its segments. The modules and polymer products business, the largest revenue contributor, saw its revenue grow 27%, while wiring harnesses, vision systems, and emerging businesses reported 9%, 8%, 42% growth, respectively.
The revenue from acquired assets totaled Rs 6,248 crore while it generated an EBITDA of Rs 688 crore. The company noted that its profitability with scale benefits and margin accretive merger and acquisitions. EBITDA margin improved to 9.6% from 8.6% during the period.
“We continue to invest in our auto and non-auto businesses; while 2 of our facilities have commenced production, 17 of our Greenfields across emerging markets for auto and non-auto businesses are at different stages of completion,” Sehgal added.