Maruti Suzuki India rises after Q2 results

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.

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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