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Motherson Sumi to pay dividend of Rs 1.50 per equity share

Motherson Sumi Systems has announced dividend of Rs 1.50 per share for the year ended on March 31.

India TV Business Desk India TV Business Desk
Mumbai Published on: June 03, 2021 9:33 IST
Motherson Sumi dividend
Image Source : MOTHERSON.COM

Motherson Sumi announces Dividend of Rs 1.50

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.

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