Auto component major Samvardhana Motherson International on Thursday, 10th November, reported more than three-fold growth in its consolidated net profit to INR 288 crore in the second quarter ended September 30, 2022. The company had reported a net profit of INR 93 crore for the July-September period last year.
Total revenue from operations rose to Rs 18,261 crore in the second quarter of the current fiscal as against Rs 14,076 crore in the year-ago period, according to a regulatory filing.
“We are seeing improvement in the external environment though it remains volatile and uncertain. While constructive discussions with customers on sharing of inflationary cost structures are moving in a positive direction, this continues to be a work in progress quarter,” the company’s Chairman Vivek Chaand Sehgal said.
“The strong growth in order book to EUR 18.2 billion at SMRP BV is a testimony of our strong relationship with our customers. Full credit to our business teams who have adopted a lot of efficiency programs, the outcome of which is partly visible in the current results. Board congratulated the teams for their relentless efforts in this tough environment,” he said.