Mothersun Sumi’s stock price rose about one percent on Wednesday, August 11, a day after the company announced its April-June quarterly results for fiscal year 2020-21. On Wednesday, Mothersun Sumi opened in the BSE at Rs 224.10, with an intraday high of Rs 227.75 and an intraday low of Rs 218.85, in the trading session so far. Mothersun Sumi reported a net profit of Rs 368 crore on a consolidated basis in the first quarter of the current fiscal year, compared to a net loss of Rs 1,121.60 crore in the corresponding quarter last year.
The company’s total revenue from continuing operations in the June quarter was Rs 16,157.35 crore, compared to Rs 8,348.35 crore in the corresponding period last year. During the June quarter, the company’s irregular production shutdowns by the OEMs or original equipment manufacturer worldwide due to supply chain constraints impacted profitability.
The company said in its regulatory filing to the exchanges that in July its board of directors approved a group reorganization plan that involved a split of its domestic wiring harness (DWH) business into a new company Motherson Sumi Wiring India Limited (MSWIL). .
On the NSE, Mothersun Sumi opened at Rs 224.10, fluctuating to an intraday high of Rs 227.70 and an intraday low of Rs 218.80, in the session so far. It last traded 0.52 percent higher at Rs 224.35 on the NSE.
Shares of Mothersun Sumi last traded 0.40 percent higher at Rs 224.05 on the BSE.