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3 months ago
India's Motherson Sumi March-qtr profit rises 20 pct, beats estimates
May 19, 2017 / 6:52 AM / 3 months ago

India's Motherson Sumi March-qtr profit rises 20 pct, beats estimates

May 19 (Reuters) - India-based auto parts maker Motherson Sumi Systems Ltd posted a better-than-expected 20 percent growth in March-quarter consolidated net profit, buoyed by higher sales in foreign markets.

Consolidated net profit stood at 7.06 billion rupees ($108.81 million) in the quarter ended March 31, compared with 5.87 billion rupees a year earlier. bit.ly/2rxNM4H

Analysts on average had expected a consolidated net profit of 4.70 billion rupees, according to Thomson Reuters data.

Motherson Sumi's net sales outside India rose over 14 percent to 94.76 billion rupees.

$1 = 64.8825 Indian rupees Reporting by Krishna V Kurup; Editing by Sherry Jacob-Phillips

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