Motherson Sumi (one of our stockletter picks) has posted very good third quarter results, with We had recommended the stock on 1 June 2012 at Rs 107. The stock closed at Rs190.45 today, up by 77% in eight months
Moneylife Digital Team
Automobile ancillary producer and flagship of the Samvardhana Motherson Group, Motherson Sumi Systems, has reported impressive 113% year-on-year (y-o-y) increase in net profit for the quarter ended December 2012, despite sluggish sales, which increased 27% y-o-y to Rs1064.53 crore. Operating profit rose 105% y-o-y for the third quarter, from Rs89.70 crore to Rs184.24 crore. The results are quite good considering that the automobile sector has been badly hit over the last few months.
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