Maruti Suzuki reported a 24.1 percent year-on-year (YoY) rise in Q3FY21 standalone net profit at Rs 1,941.4 crore against Rs 1,564.8 crore in the corresponding quarter of the previous financial year.
The company reported a 13.3 percent YoY rise in Q3 standalone revenue at Rs 23,457.8 crore against Rs 20,706.8 crore in Q3FY20.
Here are the highlights of Maruti's Q3 FY20 earnings call compiled by Narnolia Financial Advisors:
According to the Maruti management, demand momentum continued in the third quarter and sales were at similar levels as of last year. Rural sales penetration grew by 40 percent YoY for the quarter. Replacement demand has seen a sharp fall from 26 percent last year to 19 percent this year because people are continuing with old vehicles and also there is an increase in demand of pre-owned vehicles.