India Watch Daily

Samvardhana Motherson's Q4 Net Profit Increases By Five Times To Rs 654 Crore

Major auto component manufacturer Samvardhana Motherson International said on Friday that strong sales helped its consolidated net profit increase more than five times to Rs 654 crore for the fourth quarter ended March 2023.

In the January through March 2021–2022 quarter, the firm generated a net profit of Rs 122 crore.

In the fourth quarter compared to the prior year, its overall operational income increased to Rs 22,477 crore from Rs 17,241 crore.

The firm said that for the fiscal year that ended on March 31, 2023, its net profit increased to Rs 1,496 crore from Rs 874 crore in FY22.

From Rs 63,774 crore in 2021–2022 to Rs 78,701 crore in the most recent fiscal year, the overall income from operations grew.

Motherson Chairman Vivek Chaand Sehgal stated, “With the help of our customers and the dedication of our workers, the firm has completed the year with outstanding results.

Customer confidence in Motherson is reflected in the strong booked business of around USD 70 billion, he said.

For the fiscal year that ends March 31, 2023, the business's board has proposed a dividend of Re 0.65 per share, according to the corporation.

On the BSE, shares of the business closed 1.14 percent down at Rs 80.78 a share.

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