Auto component major Motherson Sumi Systems (MSSIL) on Monday reported net profit of ₹555 crore for the third quarter ended December 31, 2018. This is marginally down compared to the net profit of ₹562 crore recorded in the same quarter the previous fiscal.
However, revenue from operations rose 14 per cent year-on-year (YoY) to ₹16,234 crore during the period as against ₹14,271 crore in the October-December quarter 2017.
“All of our operating businesses have performed well under current market conditions. With the start of production at Tuscaloosa in this quarter, all the key greenfield projects are now completed,” VC Sehgal, Chairman, MSSL, said.
He said the company has successfully set up 33 new plants in the last four years to create capacities for the orders given by the customers.