Motherson Sumi Q2 Profit Drops 3% Despite Revenue Growth

12 Nov 2024 , 12:23 AM

Motherson Sumi Wiring India reported a 3% year-on-year drop in net profit for Q2, ending September 30, 2024. The company’s net profit stood at ₹152 crore, compared to ₹156 crore in the same quarter last year. Total revenue from operations rose by 10.3% to ₹2,326 crore, up from ₹2,109 crore in Q2 FY24.

Chairman Vivek Chaand Sehgal emphasized the company’s commitment to customer-focused expansion plans. Sehgal highlighted the company’s proactive approach to exploring new opportunities within the evolving automotive sector, covering all types of powertrains.

The chairman noted Motherson’s ongoing focus on enhancing operational efficiencies and advancing manufacturing capabilities. The company remains focused on sustainable growth and innovation to meet the needs of the automotive industry.