Earnings review: Motherson Sumi Q2

Auto components maker Motherson Sumi (MSSL) today posted 71.78 per cent dip in net profit to Rs 24.26 crore for the quarter ended September 30. Vivek Chaand Sehgal, Vice chairman of Motherson Sumi Systems, said the drop in profit is mainly on account of our exchange loss, which stands at Rs 61.38 crore. This is because of the appreciation of the dollar vis-a-vis the rupee as a huge chunk of our long-term loans was in dollars.