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Motherson Sumi Q2 profit falls 16% to Rs 495 crore

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In August this year, MSSL completed the acquisition of interior components and modules manufacturer Reydel Automotive Group (Reydel) for $201 million (over Rs 1,300 crore)

Motherson Sumi Systems Ltd (MSSL) Wednesday reported 16.50 percent decline in consolidated net profit at Rs 495.48 crore for the quarter ended September 30, 2018.
The company had posted a net profit of Rs 593.45 crore during the same period of the previous fiscal.
Total revenue from operations stood at Rs 15,104.97 crore during the period under review. It was Rs 13,420.43 crore in the same quarter last fiscal, MSSL said in a BSE filing.
MSSL Chairman V C Sehgal said: "The operational integration of Reydel with polymer business of the group has started on a positive note in this quarter. The company has maintained its growth momentum and Reydel's contribution has further enhanced our growth and product offerings".
In August this year, MSSL completed the acquisition of interior components and modules manufacturer Reydel Automotive Group (Reydel) for $201 million (over Rs 1,300 crore)
Overall expenses during the quarter under review were at Rs 14,424.35 crore as against Rs 12,666.94 crore in the same quarter last fiscal.
Shares of MSSL were trading 3.64 percent up at Rs 172.25 apiece on BSE.

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