Maruti Suzuki Q3 profit, EBITDA miss estimates; net rises 27%

The country's largest car maker sold 3.74 lakh vehicles in Q3, a growth of 15.5 percent over 3.23 lakh units sold in corresponding quarter of previous fiscal. Domestic sales volumes increased 16.2 percent while export growth was 8.6 percent on yearly basis.

According to analysts polled by CNBC-TV18, profit was estimated at Rs 1,395 crore on revenue of Rs 14,911 crore for the quarter.

Operating profit (earnings before interest, tax, depreciation and amortisation) shot up 36.2 percent year-on-year to Rs Rs 2,170 crore and margin expanded by 180 basis points to 14.4 percent in quarter gone by, which were lower than estimates of 55 percent EBITDA growth and 390 basis points margin expansion, respectively.

Other expenses in Q3 increased by 16.7 percent on yearly basis to Rs 2,079.6 crore due to higher advertisement and repair & maintenance expenses.

Maruti said employee cost during the quarter jumped 34.5 percent to Rs 504.5 crore and depreciation cost climbed 15 percent to Rs 722.1 crore compared to year-ago period, adding other income declined 69.2 percent to Rs 31.5 crore from Rs 102.2 crore in same period.

The scrip of Maruti Suzuki India closed at Rs 4,093.55, down Rs 15.25, or 0.37 percent ahead of earnings that announced after market hours.Commenting on poor set of numbers, Priya Ranjan, Systematix Institutional Equities in an interview to CNBC-TV18, said the numbers were definitely below estimates and it was likely to see some negative impact on the stock.