Samvardhana Motherson, an Indian auto parts manufacturer, surpasses quarterly profit projections.

Aug. 13, BENGALURU (Reuters) - Samvardhana Motherson International (SAMD.NS), an Indian manufacturer of auto parts, revealed on Tuesday that its first-quarter profit above forecasts, aided by a shift in consumer preferences toward luxury cars and an increase in income from recent acquisitions. The company claimed that its consolidated net profit increased by 65.5% to 9.94 billion rupees ($118.42 million) in the three months ended June 30.

The company distributes parts to automakers such as Maruti Suzuki (MRTI.NS), opens new tab, Mercedes Benz, and Audi.LSEG data shows that analysts had projected a profit of 9.51 billion rupees. Beating projections of 283.74 billion rupees, the total revenue from operations increased by 28.5% to 288.68 billion rupees. Click here to view additional earnings highlights.Important Context Manufacturers of auto parts, like Samvardhana Motherson, are reaping the rewards of a persistent change in consumer choice toward expensive cars like SUVs, which need more auxiliary equipment.