Samvardhana Motherson reports quarterly profit jump as auto demand surges
The Indian auto-parts maker saw a 16.5 percent rise in quarterly profit following strong vehicle sales. Growth was led by demand for wiring and electronics.
Insights:
Samvardhana Motherson International Limited announced on Tuesday that it posted a 16.5% rise in quarterly profit for the quarter ended December 31. The company reported that its revenue increased by 14% to 314.09 billion rupees during the same period. Following the announcement of these results, the company’s shares saw an immediate positive reaction, rising by as much as 6%.
The company stated that the quarterly performance was driven by growth in its wiring harness, electronics, and diversified industrial segments. This growth was further helped by steady automaker demand as vehicle sales in India 
IN picked up. The company noted that the pickup in sales followed recent government tax cuts, specifically those implemented in September, which supported the broader Indian auto sector.
IN picked up. The company noted that the pickup in sales followed recent government tax cuts, specifically those implemented in September, which supported the broader Indian auto sector.
