Maruti Suzuki India, country largest carmaker reported a Profit After Tax (PAT) of Rs 762 crore for the first quarter of the current financial year. The net profit is up 20.5% from Rs 632 crore YoY. An ET Now poll had predicted that the net profit would be Rs 715 crore.
Prospects of a pick-up in the economy, spearheaded by the newly elected government of Prime Minister Narendra Modi, could spur a marginal rise in car sales in the fiscal year that started April 1, according to an industry body.
The expected increase follows two consecutive years of decline as buyers were put off by high inflation and interest rates in Asia's third-largest economy.
The carmaker sold 2.9 lakh vehicles in the first quarter. The total sales stood at Rs 12,075 crore versus Rs 10,237 crore, up 17.9% YoY. The net sales came in at Rs 11,074 crore versus Rs 10,000 crore YoY.
The EBITDA margins were reported at 11.7% versus 11.4% YoY. The other income came in at Rs 297 crore versus Rs 204 crore YoY.
Prospects of a pick-up in the economy, spearheaded by the newly elected government of Prime Minister Narendra Modi, could spur a marginal rise in car sales in the fiscal year that started April 1, according to an industry body.
The expected increase follows two consecutive years of decline as buyers were put off by high inflation and interest rates in Asia's third-largest economy.
The carmaker sold 2.9 lakh vehicles in the first quarter. The total sales stood at Rs 12,075 crore versus Rs 10,237 crore, up 17.9% YoY. The net sales came in at Rs 11,074 crore versus Rs 10,000 crore YoY.
The EBITDA margins were reported at 11.7% versus 11.4% YoY. The other income came in at Rs 297 crore versus Rs 204 crore YoY.
Shares in Maruti Suzuki India were trading at Rs 2569.25, up 0.60% on the Bombay Stock Exchange. They hit an intraday high of Rs 2589.00 and a low of Rs 2527.00 so far in trade today.
Riding on the strategy of focusing on first time buyers and rural markets, Maruti increased its market share in passenger vehicle segment in the first quarter of the current fiscal to 42 per cent.
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