The revenue during the quarter declines by 11.7% year-on-year at Rs15,159.05 crore Motherson Sumi Systems Ltd – country’s largest automobile component manufacturer – on Tuesday announced a 68.40% year-on-year decline in consolidated net profit to ₹135.66 crore for the quarter ending March 31, on account of the shutdown of the factories across the globe due to the outbreak of the Covid-19 pandemic.
The Noida based manufacturer reported a net profit ₹429.31 crore in the corresponding period. The revenue during the quarter declined by 11.7% year-on-year to ₹15159.05 crore when compared to 17169.47 crore, in the year ago period.