New Delhi, Jul 28 (PTI) Motherson Sumi Wiring India on Friday said its net profit declined by 2 per cent to Rs 123 crore in the first quarter ended June 30.

The company had reported a net profit of Rs 126 crore for the April-June quarter of last fiscal.

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The total income, however, increased to Rs 1,859 crore compared to Rs 1,671 crore in the year-ago period, Motherson Sumi Wiring India said in a regulatory filing.

"The company continues to deliver good and consistent performance. The additional capacities, which were created over the past few quarters, have started to contribute towards revenue growth," Motherson Sumi Wiring India Chairman Vivek Chaand Sehgal said.

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Operational improvements continue to support the performance despite inflationary headwinds and supply chain issues at the customer's end, he added.

"With cost reduction initiatives in place coupled with the continued support of the customers, we believe that we will continue to deliver value to our stakeholders in the upcoming quarters as well," Sehgal said.

Shares of the company ended 2.19 per cent down at Rs 58.89 apiece on the BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)