Maruti Suzuki’s First Quarter Net Profit Rises 25%, Revenue Misses Estimates
Maruti Suzuki’s Q1 Profit Zooms. Revenue Falls Short of Estimates
Maruti Suzuki Ltd.’s delivered June quarter profit that beat analyst estimates, driven by a sharp jump in other income.
Net profit stood at Rs 1,491 crore, a rise of 25 percent compared to the same quarter last year, according to the company’s press release. The consensus of analyst estimates compiled by Bloomberg was Rs 1,224 crore. The profit growth was led by other income, which grew 134 percent.
The company’s revenue rose 12 percent to Rs 14,654 crore. This was below analyst estimate of Rs 15,133 crore.
The margins on Maruti’s earnings before interest, taxes, depreciation and amortisation contracted 162 basis points to 15.12 percent.
The company clocked total sales of 3.48 lakh units in the first quarter of the fiscal year. Maruti exported 26,103 vehicles in the quarter.
