Maruti beats estimates, net rises 3.4%

Maruti beats estimates, net rises 3.4%

Maruti Suzuki, one of the country's leading carmakers, posted a net profit after tax of Rs 2,484.3 crore in the July-September quarter of FY18, up by 3.45 percent from Rs 2,401.5 crore posted in the same period past year, on the back of a better product mix, strong volumes and better cost management. Maruti Suzuki sold a total of 4,92,118 vehicles during the quarter, 18 per cent higher than the comparable period from previous year. In the domestic market, it sold 457,401 units while 34,717 units were exported in the period. Maruti Suzuki registered a profit of Rs 2,484.3 crore during July - September 2017, which 3.4 per cent higher than the Rs 2,402 crore it recorded during the same quarter in 2016.

It's operating Ebitda-earnings before interest, tax, depreciation and amortisation, a key metric of financial performance of a company-rose by 21 percent to Rs 3,677.5 crore, which was 13 percent above estimates, according to HDFC Securities. Yields on investments were lower than the year-ago period, the cost of some commodities and advertising expenditure went up and effective tax rates were higher, it said.


While in the first half of the fiscal year, the firm sold a total of 886,689 vehicles at a growth rate of 15.6 percent. A Bloomberg poll of analysts had pegged revenue at Rs 22,020 crore and net profit at Rs 2,227 crore. We feel the economic climate, with all the changes that have been made, will enable the auto market to keep growing...

Asked about the company's plans on electric vehicles, Bhargava replied that electric mobility is all set to make a mark in India. Separately, Bhargava said that while talks are on between parent Suzuki Motor and Toyota Motor Corporation in Japan for collaboration on development of new technology, Maruti Suzuki intends to retain its leadership in the Indian market as and when electric vehicles become popular in the country. We can not give a timeline right now, but electric mobility is set to come to India. The government has set a target of electric mobility by 2030. "I don't think it will", Bhargava said. The Maruti Suzuki stock was trading 1.24 percent or 100 points higher at 8172 level on the BSE.

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