February 11, 2019 / 7:00 AM / 2 months ago

India's Motherson Sumi Systems quarterly profit rises 6.7 pct, but lags estimates

Feb 11 (Reuters) - Indian auto parts maker Motherson Sumi Systems Ltd posted a 6.7 percent rise in third-quarter profit on Monday, helped by a strong order book.

Net profit for the quarter ended Dec. 31, 2018 was 3.89 billion rupees ($54.65 million), compared with 3.64 billion rupees a year earlier, the Noida-headquartered company said bit.ly/2WViq7R.

The net profit figure missed analysts’ average estimate of a profit of 4.53 billion rupees, according to Refinitiv Eikon data.

Gross sales in the quarter rose 13.7 percent to 162.34 billion rupees. ($1 = 71.1750 Indian rupees) (Reporting by Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu)

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