Auto components major Motherson Sumi Systems Ltd has announced dividend of Rs 1.50 per share at 150 per cent on an equity share of Re 1 each for the year ended on March 31.
The company in a regulatory filing said that the payment of dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting.
Motherson Sumi is a Noida-based Systems Limited joint venture between Samvardhana Motherson and Sumitomo Wiring Systems of Japan. It was established in 1986. It is a part of the Motherson Group.
The company has reported a nearly eight-fold jump in consolidated net profit at Rs 1,018.69 crore in the fourth quarter ended March 31 riding on robust sales. The company had posted a consolidated net profit of Rs 135. 66 crore in the same quarter previous fiscal, Motherson Sumi Systems Ltd (MSSL) said in a regulatory filing.
Consolidated total revenue from operations during the period under review stood at Rs 16,971.91 crore as against Rs 14,434.48 crore in the year-ago quarter.
For the financial year ended March 31, consolidated net profit was at Rs 1,569.37 crore as compared to Rs 1,294.44 crore in the previous year.