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Shares of Maruti Suzuki India has moved higher by about 3% at Rs 3,704, also its record high on BSE, after reporting 18% year on year growth in net profit at Rs 802 crore for the third quarter ended December 31, 2014 (Q4), led by higher volumes, material cost reduction initiatives and favourable forex.
The country’s largest car maker had profit of Rs 681 crore in year ago quarter.
Net sales grew 15.4% to Rs 12,263 crore during October-December quarter compared to Rs 10,620 crore in the year-ago period, due to higher sales volume, Maruti Suzuki India said in a statement.
The company sold a total of 323,911 vehicles in Q3, a growth of 12.4%. Of this, exports were at 28,709 units, a growth of 43.8%, it added.
Analysts on an average had however, expected net profit of Rs 890 crore on revenues of Rs 12,435 crore.
The stock opened at Rs 3,650 and hit a low of Rs 3,587 on BSE. A combined 1.4 million shares changed hands on the counter till 1522 hours on BSE and NSE.
The country’s largest car maker had profit of Rs 681 crore in year ago quarter.
Net sales grew 15.4% to Rs 12,263 crore during October-December quarter compared to Rs 10,620 crore in the year-ago period, due to higher sales volume, Maruti Suzuki India said in a statement.
The company sold a total of 323,911 vehicles in Q3, a growth of 12.4%. Of this, exports were at 28,709 units, a growth of 43.8%, it added.
Analysts on an average had however, expected net profit of Rs 890 crore on revenues of Rs 12,435 crore.
The stock opened at Rs 3,650 and hit a low of Rs 3,587 on BSE. A combined 1.4 million shares changed hands on the counter till 1522 hours on BSE and NSE.
