Motherson Sumi Wiring India Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 31, 2024 at 04:48 am EST
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Motherson Sumi Wiring India Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported revenue was INR 21,183.5 million compared to INR 16,875.2 million a year ago. Net income was INR 1,678.6 million compared to INR 1,061.6 million a year ago. Basic earnings per share from continuing operations was INR 0.38 compared to INR 0.24 a year ago. Diluted earnings per share from continuing operations was INR 0.38 compared to INR 0.24 a year ago.
For the nine months, revenue was INR 60,981.6 million compared to INR 52,025.2 million a year ago. Net income was INR 4,468.7 million compared to INR 3,485.7 million a year ago. Basic earnings per share from continuing operations was INR 1.01 compared to INR 0.79 a year ago. Diluted earnings per share from continuing operations was INR 1.01 compared to INR 0.79 a year ago.
Motherson Sumi Wiring India Limited is an India-based full-system solutions provider to original equipment manufacturers (OEMs) in the wiring harness segment. The Company is prepared to meet the customer needs at every stage of the supply chain, from initial product design and validation to tool design and manufacturing, finishing, processing, assembly, and finally, production of integrated electrical and electronic distribution systems for the power supply or data transfer across vehicles. It offers a variety of harnesses for different vehicles including passenger and commercial vehicles, two and three-wheelers, farm equipment and off-road vehicles. Its services encompass three-dimensional (3D) computer-aided design, printed circuit board design and routing, 3D printing, prototyping, virtual and physical validation and technology implementation support. The Company operates through its 26 facilities consisting of manufacturing and assembly sites and technical centers across India.