Maruti Suzuki Q2 net profit rises 7% to Rs 3,293 crore, revenue up 13%

Maruti Suzuki India declared its September quarter earnings.

Maruti Suzuki India on Friday posted a 7% increase in consolidated net profit to Rs 3,293 crore for the September quarter. The country's largest carmaker reported a net profit of Rs 3,069 crore in the July-September period of the previous fiscal year.

The company's total revenue from operations increased 13% to Rs 42,101 crore in the September quarter as compared with Rs 37,203 crore in the year-ago period.

Total income increased to Rs 43,014 crore for the quarter under review as compared with Rs 38,678 crore in the year-ago period.

The earnings before interest, taxes, depreciation and amortization (EBITDA) increased 0.4% to Rs 4,434 crore from Rs 4,417 crore in the year-ago period, while the margin was reported at 10.53% from 11.87% year-on-year (y-o-y).

"Domestic wholesales declined 5.1% y-o-y to 4,40,387 units in the quarter due to customers deferring buying because of expectation of Goods and Services Tax (GST) led price reduction from 22nd September," the carmaker said in a regulatory filing.

"Exports grew by a robust 42.2% y-o-y to 1,10,487 units, the highest-ever in any quarter," Maruti said, adding that the overall sales volume grew 1.7% y-o-y to 5,50,874 units in the quarter.

During the quarter, the carmaker launched the Victoris mid-size SUV.

Shares of Maruti Suzuki India were trading lower at Rs 16,165 per share on the NSE, down 0.25%.

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