Auto components maker Motherson Sumi Systems (MSSL), the flagship company of Samvardhana Motherson, has reported a 26.3 percent increase in consolidated profit at Rs 480 for July-September quarter compared with Rs 380 crore in same period last year, driven by overall business performance. 

Auto components maker Motherson Sumi Systems (MSSL), the flagship company of Samvardhana Motherson, has reported a 26.3 percent increase in consolidated profit at Rs 480 for July-September quarter compared with Rs 380 crore in same period last year, driven by overall business performance.

Revenue grew by 14.3 percent year-on-year to Rs 10,332.6 crore in the quarter ended September 2016, driven by domestic as well as global operations. Topline as well as bottomline performance was ahead of estimates. Profit was estimated at Rs 389 crore on revenue of Rs 10,271 crore for the quarter.

We continue to consolidate operational improvements in our performance which is reflected in healthy growth of profit. The reduction in net debt provides additional headroom to prepare for growth. Organic growth is firmly on track to reaching 2020 targets, Vivek Chaand Sehgal, Chairman of Motherson Sumi Systems said in its filing.

Subsidiary Samvardhana Motherson Reflectecs revenue increased 16 percent year-on-year to 375 million euro with EBITDA showing 20 percent growth at 36 million euro and margin expansion of 30 bps at 9.6 percent in the quarter ended September 2016.