Maruti Suzuki skids after Q3 results

Maruti Suzuki India fell 6.33% to Rs 6591.80 at 14:44 IST on BSE after the company announced Q3 December 2018 results during trading hours today, 25 January 2019.

Meanwhile, the S&P BSE Sensex was down 55.99 points, or 0.15% to 36,139.11.

On the BSE, 93,000 shares were traded in the counter so far compared with average daily volumes of 40.000 shares in the past two weeks. The stock had hit a high of Rs 7131 and a low of Rs 6590 so far during the day.

Maruti Suzuki India's net profit fell 17.2% to Rs 1489.30 crore on 0.1% decline in net sales to Rs 18926.40 crore in Q3 December 2018 over Q3 December 2017. The company sold a total of 428,643 vehicles during the quarter, a decline of 0.6% over the same period the previous year.

 

The company added that this quarter was marked by a combination of several adverse factors coming together which impacted profitability, such as adverse commodity prices, adverse foreign exchange rates, higher marketing & sales expenditure, higher costs in resources and capacities which were earlier planned to enable a higher estimated growth. This was partially offset by the company's regular efforts in cost-reduction, VA-VE exercises, suggestions from employees and supplier partners.

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