Motherson Sumi Wiring India Sees Profit Dip Amid Revenue Rise

Motherson Sumi Wiring India reported a 3% decline in net profit to Rs 152 crore for Q2 ending September 30, 2024. Despite the dip in profits from Rs 156 crore last year, revenue rose to Rs 2,326 crore from Rs 2,109 crore. The company remains committed to expansion and innovation.

Motherson Sumi Wiring India has reported a 3% decrease in its net profit, amounting to Rs 152 crore for the second quarter ending September 30, 2024, as compared to Rs 156 crore during the same period last fiscal year.

Despite the decline in profit, the company's revenue from operations grew, reaching Rs 2,326 crore from Rs 2,109 crore in the previous year, according to a recent statement. Chairman Vivek Chaand Sehgal emphasized the company's dedication to expansion, customer focus, and innovation across all powertrains in the evolving automotive industry landscape.

Sehgal stated, "As we move forward, we will continue to enhance our operational efficiencies and further develop our manufacturing expertise, ensuring sustainable growth and innovation." On the Bombay Stock Exchange, the company's shares closed 0.79% lower at Rs 63.9 each.

(With inputs from agencies.)