Motherson Sumi posts 15% jump in net profit; shares down 7%

Auto-part maker Motherson Sumi Systems shares on Wednesday plunged nearly 7% after the company reported muted financial results for the quarter ended on June 30, 2016.

At 1141 hours the shares of the company were trading at Rs 326.80 per piece, down 7.03% on BSE.

The company reported a net profit of Rs 439.3 crore, a rise of 15.8%, for the quarter ended on June 30 as compared to Rs 379.3 crore for the quarter ended on June 30,2015.

Similarly, the total income increased by 15.5% from Rs 9070.8 crore for Q1FY15 to Rs 10454.1 crore for Q1FY16.

The Earnings before interest, tax, depreciation and amortisation rose 20.3% to Rs 928 crore. Within India, sales grew by 19% and outside the country, sales grew by 16%.