Analysts at Edelweiss had expected Maruti to report a 16 per cent dip in revenues on YoY basis to Rs 18,626.9 crore, while net profit was seen slipping 38 per cent to Rs 1,224.2 crore. READ MORE HERE
STANDALONE NUMBERS
Maruti Suzuki reported standalone net profit of Rs 1,435 crore for June quarter, down 27.3 per cent from the year-ago's Rs 1,975.3 crore profit. Revenue from operation came in at Rs 18,735.2 crore, down 14.1 per cent on a YoY basis.
"Broadly, results were in-line with our expectations. PAT level was slightly better because of lower tax. The company has done reasonably well in the weak operating environment. It must be noted that the company had a high base of last year both in terms of volume and margin. Moreover, during the quarter, it indulged in inventory reduction. So, in that context, the performance is rock-solid," said Jinesh Gandhi, auto analyst at Motilal Oswal Financial Services (MOFSL).
SALES VOLUME
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