Maruti Suzuki dips 4% post Q1 results

The stock slipped 4% to Rs 9,391 on the BSE after the company reported lower-than-expected 26.9% growth in net profit at Rs 19.75 billion in June quarter.

Shares of Maruti Suzuki India (MSIL) have slipped 4% to Rs 9,391 per share on the BSE after the company reported lower-than-expected 26.9% growth in net profit at Rs 19.75 billion in June quarter (Q1FY19). The country’s largest car maker had profit of Rs 15.56 billion in year ago quarter.

During the quarter, the company registered net sales of Rs 218.1 billion, up 27.3% over the same period previous year.

Analysts on an average had expected profit of Rs 23.24 billion on net sales of Rs 225.8 billion for the quarter.

“While the operating profit increased by 59.7%,