Auto components manufacturer Samvardhana Motherson International Ltd reported a consolidated net profit of INR 1,444 crore for the fourth quarter ending March 2024, marking a substantial increase from the INR 699 crore posted in the same period last year.
Total revenue from operations climbed to INR 27,058 crore during this period, compared to INR 22,517 crore in the last quarter of FY23.
For the entire fiscal year ending March 31, 2024, the company’s net profit reached INR 3,020 crore, up from INR 1,670 crore in FY23.
Total revenue for FY24 surged to INR 98,692 crore, significantly higher than the INR 78,788 crore reported in FY23.
Motherson Chairman Vivek Chaand Sehgal stated, “Our automotive booked business of over USD 83.9 bn provides strong revenue visibility. We also foresee good traction from our non-automotive businesses, such as aerospace, consumer electronics, and health and medical.”
To maximize manufacturing capabilities, the group is establishing new facilities across emerging markets, according to Sehgal.
The company’s board has approved a dividend of 80 paise per share with a face value of Re 1 each for the financial year that ended on March 31, 2024.
Shares of Samvardhana Motherson International Ltd closed 3.98 percent higher on Wednesday, reaching INR 147.60 per share on the BSE.
