Maruti Suzuki India rose 1.63% to Rs 5854 at 14.13 IST on BSE after net profit fell 27.3% to Rs 1435.50 crore on 14.1% decline in net sales to Rs 18735.20 crore in Q1 June 2019 over Q1 June 2018.
The result was announced during trading hours today, 26 July 2019.Meanwhile, the S&P BSE Sensex was up 56.67 points, or 0.15% to 37,887.65.
On the BSE, 1.52 lakh shares were traded in the counter so far compared with average daily volumes of 53,000 shares in the past two weeks.
The stock had hit a high of Rs 5955.25 so far during the day. The stock had hit a low of Rs 5685.15 so far during the day, which is also 52-week low for the counter. The stock hit a 52-week high of Rs 9,833 on 26 July 2018.
Higher fair value gain on invested surplus and cost reduction efforts supported Q1 earnings.
Result was affected by higher depreciation expense, lower capacity utilisation, adverse commodity prices and higher sales promotion expense.
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The company sold a total of 402,594 vehicles during the quarter, lower by 17.9% compared to the same period previous year. Sales in the domestic market stood at 374,481 units, lower by 19.3%. Exports were at 28,113 units.
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