India’s largest passenger car manufacturer Maruti Suzuki India Ltd. reported results for the October-December period on Wednesday, January 29, that were in-line with analyst expectations.
| Company | Value | Change | %Change |
|---|
Net profit for the period increased by 13% from last year to ₹3,525 crore, while a CNBC-TV18 poll had expected the number at ₹3,474 crore.
Revenue for the quarter stood at ₹38,492 crore, which is marginally lower compared to the CNBC-TV18 poll of ₹38,782 crore, and up 16% on a year-on-year basis.
Maruti’s Earnings Before Interest, Tax, Depreciation and Amortisation increased by 14% from the year-ago period to ₹4,470 crore, while margin stood at 11.6% from 11.7% last year. While the EBITDA figure was in-line, margins were better than the 11.4% estimate.
Some of the key positives during the quarter include:
- Volume-led revenue growth
- Stable raw material costs
- Margins fall on a sequential basis but fare better compared to peers like Hyundai
- Realisations meet expectations, though they were down quarter-on-quarter
