Auto components firm Samvardhana Motherson International Limited reported a 27% jump in revenues, at Rs 25,698 crore in the third quarter of FY24.
The company reported a net profit of Rs 733 crore, for the third quarter ended December, up 61% on year.
Net debt of the company reduced by around Rs 866 crore despite merger and acquisition (M&A) payouts of around Rs 750 crore during the quarter, said the company, adding that there is sufficient liquidity for meeting business requirements and funding of announced acquisitions.
Around 50 percent of the Rs 1,800-crore growth capex has already been invested to support growth in emerging markets, it added.
Vivek Chaand Sehgal, Chairman, Motherson said, “These results reflect the good performance of our business divisions. Reduction in Net Debt is important for us as we continue strengthening our financial position and pursuing strategic growth opportunities.”