 "Maruti Suzuki gains post Q2 results")
Maruti Suzuki India has moved higher by 2.5% at Rs 4,497 on the BSE after the company reported 42% year on year (YoY) jump in net profit at Rs 1,226 crore for the quarter ended September 30, 2015 (Q2), on back of higher volumes.
Higher volumes, material cost reduction initiatives and favourable foreign exchange contributed significantly to bottomline growth during the year, Maruti Suzuki said in a press release.
Net sales of the company increased 13.2% at Rs 13,575 crore on YoY basis.
Analysts on an average had expected profit of Rs 1,253 crore on net sales of Rs 13,935 crore for the quarter.
The company sold a total 353,335 vehicles in Q2, a growth of 9.8% YoY.
Operating or earnings before interest, tax, depreciation and amortization (EBITDA) margin expanded to 16.28% from 12.44% during the recently concluded quarter.
At 03:09 pm, the stock was up 2.4% at Rs 4,492 on the BSE. A combined 1.24 million shares changed hands on the counter on the BSE and NSE.
Higher volumes, material cost reduction initiatives and favourable foreign exchange contributed significantly to bottomline growth during the year, Maruti Suzuki said in a press release.
Net sales of the company increased 13.2% at Rs 13,575 crore on YoY basis.
Analysts on an average had expected profit of Rs 1,253 crore on net sales of Rs 13,935 crore for the quarter.
The company sold a total 353,335 vehicles in Q2, a growth of 9.8% YoY.
Operating or earnings before interest, tax, depreciation and amortization (EBITDA) margin expanded to 16.28% from 12.44% during the recently concluded quarter.
At 03:09 pm, the stock was up 2.4% at Rs 4,492 on the BSE. A combined 1.24 million shares changed hands on the counter on the BSE and NSE.