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Reuters
4 days ago
- Automotive
- Reuters
India's Samvardhana Motherson misses quarterly profit estimates as global car sales decline
May 29 (Reuters) - Samvardhana Motherson ( opens new tab, India's top auto parts maker by market capitalisation, missed quarterly profit estimates on Thursday, hurt by weak global vehicle sales. The company's consolidated profit dropped 23% to 10.51 billion rupees (about $123 million) for the quarter ended March 31. Analysts, on average, expected a profit of 10.95 billion rupees, according to data compiled by LSEG. Revenue grew 8% to 293.17 billion rupees, ahead of analysts' forecast of 287.85 billion rupees. Shares of the company hit an intraday high after results and closed 2.3% higher. For detailed earnings highlights, click (Full story). European car sales have been affected due to competition from China, the uncertainty around a 25% U.S. import tariff, and high costs. Samvardhana Motherson counts German auto majors such as Mercedes-Benz ( opens new tab, Volkswagen , Audi and BMW ( opens new tab among its top customers in Europe. Earlier this month, peer Sona BLW ( opens new tab reported a 10.4% quarterly profit rise on strong order book, but flagged a negative impact from the U.S. tariffs on short-term demand in the global auto industry. PEER COMPARISON * Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT JANUARY-MARCH STOCK PERFORMANCE -- All data from LSEG -- $1 = 85.4620 Indian rupees
Reuters
22-05-2025
- Business
- Reuters
India's Sun Pharma posts quarterly profit rise on strong demand for rare disease drugs
May 22 (Reuters) - Sun Pharmaceutical ( opens new tab, India's largest drugmaker by revenue, reported a rise in adjusted quarterly profit on Thursday, driven by strong domestic demand for its drugs to treat rare diseases. The Mumbai-based firm's consolidated profit before exceptional items and tax rose 24% to 36.16 billion rupees ($420.7 million) in the three months ended March 31. ($1 = 85.9500 Indian rupees)
