Maruti Suzuki profit raises to 1 per cent at Rs 1372
Published On: Thursday, October 29, 2020 | By: Team KnowMyStock
Indias largest Automaker, Maruti Suzuki India on Thursday reported a one per cent year-on-year growth in net profit at Rs 1,372 crore for the September quarter of FY21 against Rs 1,358.6 crore in the same period last year. This is a big update from the company considering it posted a loss of Rs. 249.4 crore for the first quarter of the current financial year ending in June 2020. Revenue rose 10% year-on-year to Rs 18,744 crore, compared with the Rs 19,137-crore estimate.Maruti's Q2 earnings before interest, tax, depreciation, and amortization (Ebitda) came in at Rs 1,933 crore while Ebitda margin for the quarter stood at 10.3 per cent, up to 86 basis points (bps) from 9.46 per cent in Q2FY20.“In Quarter 2, the performance improved on the back of some demand recovery and gradual improvement in supply conditions,” Maruti Suzuki said in a statement.Maruti sold 3.93 lakh units in July-September quarter reporting a massive 413 per cen growth over the previous quarter and 16 per cent.
The company said that higher sales volumes leading to improved capacity utilisation, lower sales promotion and advertisement expenses, lower operating expenses and cost reduction efforts contributed positively to the margin movement.
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