Maruti Suzuki falls 5% from day's high post Q4 results

Shares of Maruti Suzuki India have dipped 2.5% to Rs 8,721 per share, falling 5% from their intra-day high of Rs 9,142 per share on the BSE, after the automaker reported a lower than expected net profit of Rs 18.82 billion due to higher tax outgo in March quarter (Q4FY18). It had profit of Rs 17.11 billion in year ago quarter.

Net sales during the quarter under review grew 14.4% to Rs 206 billion against Rs 180 billion in previous year quarter. The tax outgo doubled from Rs 5 billion to Rs 10 billion during the quarter.

Analysts