New Delhi: Auto component major Samvardhana 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 2020-21 fiscal.
Its revenue stood at Rs 17,185 crore during the quarter under review. It stood at Rs 16,972 crore in the year-ago period.
For the fiscal year ended March 31, 2022, the company reported a consolidated net profit of Rs 817 crore. It stood at Rs 1,243 crore in 2020-21 fiscal.
Its revenue stood at Rs 63,536 crore in the last fiscal. It was at Rs 57,370 crore in FY21.
The group’s operations have been impacted partially in the periods presented by the outbreak of COVID-19 pandemic and the consequent lockdown announced by governments in many of the jurisdictions, the company said.
Accordingly, the figures presented for different periods in the consolidated financial results are not strictly comparable, it added.
Motherson Chairman Vivek Chaand Sehgal said, “The quarterly results are impacted due to global uncertainties such as continued semiconductor shortages, geopolitical conflict in Europe and COVID related lockdowns in China. This has been further aggravated by substantially high inflationary pressures.”
In these challenging times, the company continues to focus on improving its operational efficiencies, control costs and remain focused on diversification strategy, he added.
“The teams at Motherson are working very hard in collaboration with our customers to face these challenges,” Sehgal noted.
The company said its board has recommended a dividend of 85 paise per share of Re 1 each for the year ended March 31, 2022.
As part of the group’s reorganisation activity, the name of Motherson Sumi Systems Limited (MSSL) has now been changed to Samvardhana Motherson International Ltd (SAMIL), the company noted.