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Motherson Sumi posts 76% yoy drop in Q2 PAT to Rs93.04cr on account of supply chain disruptions

Consumer revenue from operations stood at Rs14,076.39cr in Q2FY22 down from Rs14,957.21cr in Q2 of last year.

November 12, 2021 3:38 IST | India Infoline News Service
Motherson Sumi recorded a weak September 2021 (Q2FY22) quarter as the auto industry continues to face multiple challenges on account of supply chain disruptions. The company's Q2 PAT stood at Rs93.04cr - declining by a whopping 76% from Rs387.93cr in the same quarter last year.

The company had posted a net profit of Rs367.65cr in the preceding quarter.

Consumer revenue from operations stood at Rs14,076.39cr in Q2FY22 down from Rs14,957.21cr in Q2 of last year. The revenue dropped significantly in comparison to Q1FY22 where the top-line front was at Rs16,157.35cr.

Vivek Chaand Sehgal, Chairman, Motherson Sumi Systems Ltd. said, “The global automotive industry continues to face multiple challenges on account of supply chain disruptions. Our strategy of 3CX10 has helped us limit the impact on our earnings. Our teams are working very hard to support the customers and deliver value to our stakeholders."

Sehgal added, "We are focused on controlling our cost structure and conserve cash in the current volatile market conditions. We expect the industry headwinds to ease gradually in the upcoming quarters."

On Sensex, Motherson stock finished at Rs244.70 per piece down by 3.2%. 

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