The latest round of hike may dampen sales during the third quarter, during which they sell the most number of cars during the festive season.
Shares of Maruti Suzuki India moved higher by 5 per cent to Rs 9,500 on the BSE in Friday’s intra-day trade after the company reported a better-than-expected profit after tax (PAT) of Rs 2,061.5 crore in September quarter (Q2FY23). The profit was aided by better sales, and improved realisation. Analysts expected PAT of around Rs 1,700 crore for the quarter. The automobiles company had PAT of Rs 475 crore in the year-ago quarter.
The stock has surpassed its previous high of Rs 9,450, which it had touched on September 23, 2022. In the past one year, it has outperformed
First Published: Oct 28 2022 | 3:22 PM IST