Motherson Sumi net profit drops 16 per cent

Motherson Sumi Systems has posted a 16 per cent drop in its consolidated net profit for Q2FY19 at Rs. 495.48 crore as against Rs. 593.45 crore in Q2FY18.

The shares of the company fell by 1.23 per cent around noon and since after the company reported its earnings for the quarter, the stock has seen a sharp falling trend.

The revenue of the company has jumped 11 per cent at Rs. 14,853.55 crore in Q2FY19 versus Rs 13,338.21 crore reported in the same quarter of the previous year.

On Wednesday, the shares of the company opened at Rs. 167.70 per share against Tuesday’s close of Rs. 166.20 on the BSE. At 12:31 hours, the share was trading at Rs.162.75 down by 1.59 per cent. The intraday high was Rs. 173.70 and intraday low was Rs. 162.55 per share on the BSE. Its 52-week high was Rs. 263.47 and 52-week low was Rs. 148.84 per share on the BSE. Meanwhile, BSE Sensex was at 35,270.40 level, up 0.36 per cent.