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Motherson Sumi Systems fiscal Q3 profit climbs 43.2% YOY

Motherson Sumi Systems Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, was 1.84 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.93 rupees per share.

EPS climbed 35.0% year over year from 1.37 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.88 billion rupees, an increase of 43.2% from 2.71 billion rupees in the prior-year period.

The normalized profit margin climbed to 3.7% from 2.8% in the year-earlier period.

Total revenue grew 8.7% year over year to 105.14 billion rupees from 96.76 billion rupees, and total operating expenses grew 8.4% on an annual basis to 97.12 billion rupees from 89.56 billion rupees.

Reported net income rose 35.3% year over year to 4.16 billion rupees, or 1.97 rupees per share, from 3.07 billion rupees, or 1.55 rupees per share.

As of Feb. 13, US$1 was equivalent to 67.03 Indian rupees.