New Delhi: Auto component major Promotion Motherson International on Thursday reported a consolidated net profit of Rs 130 crore for the fourth quarter ended March.
The company had reported a net profit of Rs 849 crore in the March quarter of the financial year 2020-21.
Its revenue during the quarter under review stood at Rs 17,185 crore. It was Rs 16,972 crore in the year-ago period.
For the financial year ended March 31, 2022, the company reported a consolidated net profit of Rs 817 crore. In the financial year 2020-21, it was Rs 1,243 crore.
Its revenue in the last financial year was Rs 63,536 crore. It was Rs 57,370 crore in FY2011.
The Group’s operations have been partially affected in the period presented by the outbreak of the COVID-19 pandemic and the lockdowns announced by governments in several jurisdictions, the company said.
Accordingly, the figures presented in the consolidated financial results for different periods are not strictly comparable, it added.
Motherson Chairman Vivek Chand Sehgal said, “The quarterly results have been impacted by global uncertainties such as continued semiconductor shortages, geopolitical conflicts in Europe and COVID-related lockdowns in China. This has been compounded by significantly higher inflationary pressures.” “
He said that in these challenging times, the company is focusing on improving its operational efficiencies, controlling costs and focusing on diversification strategy.
“The Motherson teams are working hard with our customers to meet these challenges,” Sehgal said.
The company said its board has recommended a dividend of 85 paise per share for the year ended March 31, 2022.
As part of the group’s restructuring activity, the name of Motherson Sumi Systems Limited (MSSL) has now been changed to Samvardhan Motherson International Limited (SMIL), the company noted.
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