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Motherson Sumi share price gains over 3% despite weak Q4 earnings

Share price of Motherson Sumi gained 3.53% to Rs 105.5 intra day against previous close of Rs 101.90 on BSE

twitter-logoBusinessToday.In | June 3, 2020 | Updated 17:51 IST
Motherson Sumi share price gains over 3% despite weak Q4 earnings
The stock closed 1.03% lower at Rs 100.85 on BSE. Market cap of the firm fell to Rs 31,845 crore

Motherson Sumi share price rose in trade today even after the firm reported a 68.4 per cent fall in consolidated net profit for the fourth quarter ended March 31, mainly affected by the coronavirus pandemic. Share price of Motherson Sumi gained 3.53% to Rs 105.5 intra day against previous close of Rs 101.90 on BSE. The stock stands higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.

However, it fell 2.31% to Rs 99.55 in afternoon trade. The stock closed 1.03% lower at Rs 100.85 on BSE.  Market cap of the firm fell to Rs 31,845 crore.

Total 12.59 lakh shares changed hands amounting to turnover of Rs 12.95 crore. The large cap stock has gained 15.19% in one month and risen 16.45% in one week. Motherson Sumi share price has lost 11.35% during the last one year and fallen 31.18% since the beginning of this year.

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The automobile components maker reported consolidated net profit of Rs 135.66 crore in Q4  against net profit of Rs 429.31 crore in the corresponding period of the previous financial year.

For the financial year 2019-20, the firm said its consolidated net profit stood at Rs 1,294.44 crore compared with Rs 2,098.13 crore in 2018-19. Total consolidated revenue from operations in 2019-20 was Rs 63,536.87 crore. It was at Rs 63,522.88 crore in 2018-19.

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