Samvardhana Motherson International Ltd reported a strong Q4 FY24, with net profit doubling to Rs 1,444 crore. Revenue also saw significant growth, driven by robust performance across automotive and non-automotive segments.
New Delhi, May 29 (PTI) Auto components maker Samvardhana Motherson International Ltd on Wednesday posted a two-fold jump in consolidated net profit to Rs 1,444 crore for the fourth quarter ended March 2024.
The company had reported a net profit of Rs 699 crore in the January-March period of the last fiscal.
Total revenue from operations rose to Rs 27,058 crore for the period under review as compared to Rs 22,517 crore in the last quarter of FY23.
For the year ended on March 31, 2024, the company reported a net profit of Rs 3,020 crore as against Rs 1,670 crore in FY23.
Total revenue from operations rose to Rs 98,692 crore in FY24 over Rs 78,788 crore in FY23.
Motherson Chairman Vivek Chaand Sehgal said the company has maintained a healthy financial position by keeping leverage and debt under control.
"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," he added.
To fully utilise manufacturing capabilities, the group is setting up new facilities across emerging markets, Sehgal said.
The company said its board has approved a dividend of 80 paise per share of face value of Re 1 each for the financial year ended on March 31, 2024.
Shares of the company on Wednesday ended 3.98 per cent up at Rs 147.60 apiece on the BSE.
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