Mothersun Sumi Trades Marginally Higher After Reporting Profit In June Quarter

Mothersun Sumi Share Price Today: On Wednesday, Mothersun Sumi opened in the BSE at Rs 224.10, registering an intra day high of Rs 227.75 and an intra day low of Rs 218.85, so far.

Share price of Mothersun Sumi gained around one per cent on Wednesday, August 11, a day after the company announced its April-June quarter results for the financial year 2020-21. On Wednesday, Mothersun Sumi opened in the BSE at Rs 224.10, registering an intra day high of Rs 227.75 and an intra day low of Rs 218.85, in the trading session so far. Mothersun Sumi reported a net profit of Rs 368 crore on a consolidated basis in the first quarter of the current fiscal, compared to a net loss of Rs 1,121.60 crore in the corresponding quarter last year. The company's total revenue from continuing operations in the June quarter stood at Rs 16,157.35 crore, compared to Rs 8,348.35 crore in the corresponding period last year. During the June quarter, the company's irregular production stoppages by the OEMs or original equipment manufacturer globally due to the supply chain constraints impacted its profitability. The company said in its regulatory filing to the stock exchanges that in July, its board of directors approved a group reorganisation plan which entailed a demerger of the domestic wiring harness (DWH) business from it into a new company Motherson Sumi Wiring India Limited (MSWIL).