Revenue during the quarter grew 5.95 percent to $4,292 million from $4,051 million in the previous year period. Gross margin for the quarter expanded 26 basis points over the previous year period to 19.73 percent. Total expenses were 89.19 percent of quarterly revenues, up from 89.04 percent for the same period last year. That has resulted in a contraction of 15 basis points in operating margin to 10.81 percent.

Operating income for the quarter was $464 million, compared with $444 million in the previous year period.

However, the adjusted operating income for the quarter stood at $537 million compared to $512 million in the prior year period. At the same time, adjusted operating margin contracted 13 basis points in the quarter to 12.51 percent from 12.64 percent in the last year period.

"Our first quarter results reflect a great start to the year, building on the momentum we saw in 2016 with another quarter of strong growth, margins and cash flow," said Kevin Clark, president and chief executive officer. "Today also marks a major milestone in the evolution of our company as we announced plans to spin-off our Powertrain segment, creating two independent companies, each well-positioned to meet the rapidly changing needs of our customers and deliver value to all of our stakeholders."

For financial year 2017, Delphi Automotive PLC forecasts revenue to be in the range of $16,500 million to $16,900 million. The company forecasts adjusted operating income to be in the range of $2,210 million to $2,310 million. It company expects diluted earnings per share to be in the range of $6.40 to $6.70 on adjusted basis.

For the second-quarter 2017, Delphi Automotive PLC forecasts revenue to be in the range of $4,150 million to $4,250 million. The company forecasts adjusted operating income to be in the range of $560 million to $580 million. On an adjusted basis, the company expects diluted earnings per share to be in the range of $1.62 to $1.68.

Operating cash flow improves
Delphi Automotive PLC has generated cash of $290 million from operating activities during the quarter, up 8.21 percent or $22 million, when compared with the last year period.

The company has spent $270 million cash to meet investing activities during the quarter as against cash outgo of $224 million in the last year period.

The company has spent $332 million cash to carry out financing activities during the quarter as against cash outgo of $166 million in the last year period.

Cash and cash equivalents stood at $547 million as on Mar. 31, 2017, up 18.14 percent or $84 million from $463 million on Mar. 31, 2016.

Working capital increases sharply
Delphi Automotive PLC has recorded an increase in the working capital over the last year. It stood at $1,395 million as at Mar. 31, 2017, up 36.63 percent or $374 million from $1,021 million on Mar. 31, 2016. Current ratio was at 1.34 as on Mar. 31, 2017, up from 1.25 on Mar. 31, 2016.

Cash conversion cycle (CCC) has decreased to 13 days for the quarter from 28 days for the last year period. Days sales outstanding went down to 62 days for the quarter compared with 64 days for the same period last year.

Days inventory outstanding has decreased to 18 days for the quarter compared with 34 days for the previous year period. At the same time, days payable outstanding went down to 66 days for the quarter from 71 for the same period last year.