New Delhi: Motherson Sumi Wiring India Limited (MSWIL) Friday announced its financial results for the fiscal 2023-24 first quarter, which ended on June 30, 2023.
The company had revenue of INR 1,859 crore for Q1FY24. The EBITDA was INR 207 crore for Q1 and the EBITDA Margin was 11.1%. The PAT of the company was INR 123 crore for Q1FY24.
Vivek Chaand Sehgal, Chairman, Motherson Sumi Wiring India, said, “The company continues to deliver good and consistent performance. The additional capacities which were created over the past few quarters have started contributing e to the revenue growth. Operational improvements continue to support the performance despite inflationary headwinds and supply chain issues at the customer’s end. With cost reduction initiatives in place coupled with the continued support of the customers, we believe that we will continue to deliver value to our stakeholders in the upcoming quarters as well.”
In India’s wiring harness market, MSWIL is a full-system solutions provider to OEMs. Samvardhana Motherson International Limited (SAMIL) [Formerly Motherson Sumi Systems Limited] and Sumitomo Wiring Systems, Ltd. (SWS) are partners in Motherson Sumi Wiring India, the company said..
