Samvardhan Motherson Q3 PAT soars 122% YoY to Rs 501 cr

On consolidated basis, Samvardhan Motherson International's net profit from continuing operations soared 121.61% to Rs 500.73 crore in Q3 FY23 as against Rs 225.95 crore in Q3 FY22.

Revenue from operations rose 25% year on year (YoY) to Rs 20,226 crore in the quarter ended 31 December 2022.

Profit before exceptional items and tax stood at Rs 732.96 crore in Q3 FY23, registering a growth of 117.89% YoY. The company reported an exceptional loss of Rs 15.05 crore in Q3 FY23 as against an exceptional loss of Rs 9.46 crore in Q3 FY22.

During the quarter, EBITDA grew 44% YoY to Rs 1,684 crore, on account of production volume recovery and improved realizations. EBITDA margin improved to 8.3% as compared with 7.2% posted in corresponding quarter last year.

Vivek Chaand Sehgal, chairman of Samvardhan Motherson International, said, These results demonstrate strong fundamentals of the company and continued focus on operational efficiencies.

Samvardhana Motherson International is engaged primarily in the manufacture and sale of components to automotive original equipment manufacturers.

The scrip rose 0.81% to end at Rs 80.80 on the BSE.

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