Motherson Sumi Wiring India Ltd Navigates Profit Dip Amid Growing Revenues

Motherson Sumi Wiring India Ltd, a leader in auto component manufacturing, saw its net profit drop by 3.8% to Rs 143.1 crore for the June quarter, citing increased expenses as a major factor. This is compared to a net profit of Rs 148.87 crore in the same quarter of the previous fiscal year, according to their regulatory filing.

The company's total revenue from operations rose to Rs 2,494.03 crore, a considerable increase from Rs 2,184.84 crore in the prior year, demonstrating a strong 14% year-on-year growth. This impressive revenue expansion was significantly higher than the industry's overall 3% growth rate, emphasizing Motherson Sumi's competitive edge and successful customer relationships.

Chairman Vivek Chaand Sehgal highlighted the firm's strategic expansion efforts, noting that even though a specific greenfield project's ramp-up is slower than expected, they remain committed to supporting future OEM requirements. The increased expenses from Rs 1,991.46 crore to Rs 2,305.26 crore during the quarter were noted, underscoring the challenges faced amid rapid growth.

(With inputs from agencies.)