Maruti Suzuki India rose 1% to Rs 8157.35 at 14:10 IST on BSE after net profit rose 3.4% to Rs 2484.30 crore on 21.8% increase in net sales to Rs 21438.10 crore in Q2 September 2017 over Q2 September 2016.
The result was announced during trading hours today, 27 October 2017.Meanwhile, the S&P BSE Sensex was up 96.67 points, or 0.29% to 33,243.80.
On the BSE, 54,000 shares were traded in the counter so far, compared with average daily volumes of 26,639 shares in the past one quarter. The stock had hit a high of Rs 8,242.40 so far during the day, which is also record high for the counter. The stock had hit a low of Rs 8,110 so far during the day. The stock hit a 52-week low of Rs 4,769.65 on 21 November 2016.
The stock had underperformed the market over the past one month till 26 October 2017, rising 4.43% compared with 6.38% rise in the Sensex. The scrip had outperformed the market in past one quarter, rising 5.96% as against Sensex's 2.59% rise. The scrip had also outperformed the market in past one year, rising 37.83% as against Sensex's 18.74% rise.
The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.
Maruti Suzuki India said its total vehicle sales rose 17.6% to 4.92 lakh units in Q2 September 2017 over Q2 September 2016. Total domestic market sales rose 19.4% to 4.57 lakh units in Q2 September 2017 over Q2 September 2016. Exports fell 2% to 34,717 units in Q2 September 2017 over Q2 September 2016.
The operating profit increased by 24% while the net profit increased by 3.4% due to lower non-operating income as the yields on investments were lower compared to last year and some impact of commodities and advertisement expenses and increase in effective tax rates.
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Maruti Suzuki India is India's biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 30 September 2017).
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