NEW DELHI: Auto components major Wednesday reported 289% increase in its consolidated net profit at Rs 713.6 crore for the fourth quarter ended March 31, 2021.
The company’s consolidated revenues from operations rose 17.6% to Rs 16,971.9 crore in the period under consideration.
The growth in the topline of the company was led by Samvardhana Motherson Peguform and the wiring harness business.
“Consolidated revenues last quarter were more than pre-COVID levels as industrial activity picked up globally”, the company said in a statement, adding, despite multiple headwinds such as chip shortage, higher commodity costs it sustained profitability.
However, production shutdowns in India and semi-conductor shortages globally likely to be headwinds for OEM production in the near term.
The company’s board approved a final dividend of Rs 1.5 per share for the financial year ended March, 2021.
