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Maruti Suzuki's Q2 suggests a big bounce for auto sector stocks

Maruti Suzuki's revenue and net profit both were ahead of consensus estimates

Maruti Suzuki
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Maruti’s results and the investor response indicates that quite a few stocks in the auto sector could be on the verge of a big bounce

Devangshu Datta
A jump in profits allied to optimism on the supply chain led to a bounce in the share price of Maruti Suzuki. The company said it sold a record 517,395 vehicles in Q2, 2022-23: domestic sales stood at 454,200, while exports accounted for 63,195 units. The firm had sold 379,541 units in Q2, 2021-22, when production was constrained by chip shortages. In addition, the company claimed it had pending orders for 412,000 vehicles.

Maruti’s consolidated revenue came in at Rs 29,943 crore, as against Rs 20,551 crore in the year-ago quarter. The Ebitda (earnings before interest, taxes, depreciation, and amortisation)

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First Published: Oct 28 2022 | 9:34 PM IST

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