Maruti Suzuki India fell 3.82% to Rs 9,385 at 13:53 IST on BSE after net profit rose 26.91% to Rs 1975.30 crore on 27.31% increase in net sales to Rs 21810.70 crore in Q1 June 2018 over Q1 June 2017.
The result was announced during trading hours today, 26 July 2018.Meanwhile, the S&P BSE Sensex was up 95.36 points, or 0.26% to 36,953.59.
On the BSE, 56,000 shares were traded in the counter so far compared with average daily volumes of 28,000 shares in the past two weeks. The stock had hit a high of Rs 9833 and a low of Rs 9371 so far during the day. The stock hit a record high of Rs 10,000 on 20 December 2017. The stock hit a 52-week low of Rs 7,377.75 on 11 August 2017.
Maruti Suzuki India sold a total of 490,479 vehicles during the quarter, a growth of 24.3% over the same period of the previous year. Sales in the domestic market stood at 463,840 units, a growth of 25.9%. Exports were at 26,639 units.
The operating profit was Rs 2631.30 crore, a growth of 59.7% over the same period previous year on account of higher sales volume, favourable product mix and cost reduction efforts, partially offset by adverse commodity prices and forex rates.
While the operating profit increased by 59.7%, the net profit increased by 26.9% on account of lower non-operating income due to mark-to-market impact on the invested surplus, compared to last year.
Maruti Suzuki India is India's biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.206% stake in Maruti Suzuki India (as per the shareholding pattern as on 30 June 2018).
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