ANI
27 May 2023, 02:18 GMT+10
Noida (Uttar Pradesh) [India], May 26 (ANI): Automotive component manufacturer Samvardhana Motherson International (SAMIL) on Friday reported a huge 438 per cent growth in its net profit to Rs 654 crore in March quarter of FY23, on the back of the strong booked business.
Sequentially, profit after tax grew 44 per cent. Motherson posted the highest-ever quarterly and yearly revenue.
Vivek Chaand Sehgal, Chairman, Motherson, said, "With the support of our customers and the hard work of our teams, the company has ended the year with strong performance. The robust booked business of nearly USD 70 billion is a reflection of customer trust in Motherson. SAMIL is well-positioned to gain from emerging trends in the automotive industry. The additional seven strategic acquisitions and the MA pipeline will further strengthen our business portfolio, and we look forward to exciting times ahead."According to a statement shared with stock exchanges, revenue rose 30 per cent to Rs 22,477 crore in the fourth quarter of FY23; sequentially revenue jumped 11. For FY23, revenue growth was 23 per cent to Rs 78,701 crore, which the company said it was the highest-ever yearly revenue.
In terms of operating profit, EBITDA zoomed by 61 per cent year-on-year and 23 per cent sequentially to Rs 2,066 crore. In FY23, EBITDA stood at Rs 6,394 crore, up by 33 per cent.
According to the statement, the profit in fiscal 2022-23 also jumped huge 193 per cent year-on-year to Rs 1,496 crore. (ANI)
Get a daily dose of Dublin News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Dublin News.
More InformationBURBANK, California: Over the US Memorial Day weekend, Disney's live-action remake of its 1989 animated classic, "The Little Mermaid," brought ...
NEW YORK CITY, New York: The Nielsen company said that CBS has again claimed the title of most-watched television network ...
NEW YORK, New York - U.S. and global stocks tumbled Wednesday as lawmakers continued to navigate their way through Congress ...
PORTLAND, Maine: Fishermen in the US's only commercial-scale fishing industry for valuable baby eels, called elvers, have recorded a productive ...
LAS VEGAS, Nevada: A bill was introduced in the Nevada Legislature to provide the Oakland Athletics up to $380 million ...
WASHINGTON D.C.: Due to one of the tightest labor markets in decades, teenagers, who have been vital for filling summer ...
DUBLIN, Ireland: Ireland has set a record as unemployment fell to 3.8 percent in May, according to the Central Statistics ...
PORTLAND, Maine: Fishermen in the US's only commercial-scale fishing industry for valuable baby eels, called elvers, have recorded a productive ...
WARSAW, Poland: Plans are underway in Poland to gradually raise the minimum wage twice in 2024. The wage plan has ...
BEIJING, China: China will put into commercial operation its first large passenger airliner, in a bid to challenge western plane ...
DUBLIN, Ireland: Ireland's homeowners and businesses expect to see still more reductions in the cost of natural gas as the ...
SAN FRANCISCO, California: Sam Altman, CEO of ChatGPT-maker OpenAI, has said the company could consider leaving Europe if it could ...