August 1, 2024
New Delhi, India
Q1 Results
Maruti Suzuki, India’s leading car manufacturer, reported a significant 46.9% year-on-year increase in standalone profit for the June quarter, amounting to ₹3,650 crore. This figure exceeded the Street’s estimate of ₹3,467 crore. The stock responded positively, closing 3.89% higher at ₹13,375 in Wednesday’s trading session, compared to the previous close of ₹12,873.
Key Financial Highlights:
Profit and Revenue:
Maruti Suzuki’s standalone profit for the June quarter rose 46.9% YoY to ₹3,650 crore, surpassing the Street estimate of ₹3,467 crore. This growth is attributed to cost reduction efforts, favorable commodity prices, and foreign exchange benefits. Quarterly revenue increased by 10% from the same period last year to ₹35,531 crore, exceeding the estimated ₹34,565 crore.
EBITDA and Margins:
Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) surged by 49.1% YoY to ₹4,448.3 crore, surpassing analysts’ expectations of ₹3,986 crore. The EBITDA margin for the quarter increased by nearly 350 basis points to 12.5%, compared to 9.2% in the same quarter the previous year. Maruti Suzuki’s margins were anticipated to improve by 220 basis points due to a lower base and reduced raw material costs.
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Sales Performance:
The company sold 521,868 vehicles in the quarter, marking a 4.8% increase compared to the same period last year. Domestic sales reached 451,308 units, rising by 3.8% from Q1FY24, while export sales were 70,560 units, growing by 11.6% over Q1FY24. The company reported net sales of ₹338,753 million for the quarter, up from ₹308,452 million in Q1FY2023-24.
Maruti Suzuki’s Shares were trading at 13,160.50INR up +44.70+0.34% at 12:13 P.M today.
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