Motherson Sumi Wiring India (MSWIL), one of the leading suppliers to the automotive industry has announced its financial results for the Q2 FY2023-24.
The company reported revenue of Rs 2,105 crore, up 15 percent YoY, EBITDA of Rs 253 crore, up 33 percent YoY and a net profit of Rs 156 crore, up 34 percent compared to same period last year.
During the quarter the company revenue from wiring harness business crossed Rs 2,000 crore for the first time.
Vivek Chaand Sehgal, Chairman, Motherson Sumi Wiring India said, “The company has delivered a commendable performance with the unwavering support of our valued customers and the relentless efforts of our teams across India. The Indian automotive industry continues to grow at a healthy rate. The company’s manufacturing expertise remains a crucial driver of its performance, and it is committed to enhancing its operational efficiencies further. Additionally, the company will continue to expand its capacities aligned to its customers’ upcoming launches across all powertrains.”
