Motherson Sumi dips on stable results

Motherson Sumi reported stable numbers for the quarter with steady revenue growth and robust bottomline growth for the quarter.

The company's total revenue for the quarter rose by 10 per cent yoy to Rs. 14,562 crore in Q1FY19 as against Rs. 13,194 crore in the previous year's corresponding quarter.

The EBITDA for the quarter rose by 23.2 per cent yoy and declined 13.6 per cent qoq to Rs. 1,116 crore in Q1FY19 as against Rs. 906 crore in the previous year's corresponding quarter. The EBITDA margins for the quarter rose marginally by 80 bps to 7.7 per cent for the quarter as compared to 6.9 per cent for the same quarter the previous year. This minimal increase in margins was largely due to 25 per cent yoy increase in employee benefit expenses.

Lastly, the net profit for the quarter rose by 78.1 per cent yoy to Rs. 618 crore in Q1FY19 as compared to Rs. 347 crore in the same quarter the previous year. The stock is closed 3.3 per cent down at Rs. 304 per share on Tuesday