On November 1, Motherson Sumi Wiring saw a positive uptick in its share price, a day after reporting Q2 FY24 earnings that met expectations. The company’s net profit experienced a notable surge of 34 percent year-on-year, a boost attributed to its robust operating performance. Additionally, Motherson Sumi Wiring witnessed a 15 percent growth in revenue compared to the previous year.
Analysts expressed optimism about the company’s margin outlook, foreseeing a gradual recovery in operating performance in the latter half of FY24. This optimistic outlook was grounded in expectations of increased production and utilization of new plants, indicating a positive trajectory for Motherson Sumi Wiring’s future performance.
As of 1:00 pm, the shares continued their positive trend, trading 0.25 percent higher at ₹60.10, reaffirming investor confidence in the company’s ability to maintain its growth momentum and capitalize on emerging opportunities in the market.
