Maruti Suzuki reports 4-fold jump in net profit at Rs 2,062 crore

Maruti Suzuki on Friday reported a four-fold jump in net profit at Rs 2,061.50 crore for the September quarter compared with a profit of Rs 475.30 crore in the same quarter last year. 

Sales for the quarter jumped 47.91 per cent year-on-year (YoY) to Rs 28,543.50 crore from Rs 19,297.80 crore in the corresponding quarter last year. 

Operating Ebit soared 20.71 times to Rs 2,046.30 crore from Rs 98.80 crore in the year-ago quarter, the company said in an exchange filing.

Ebit margin for the quarter stood at 7.2 per cent against 0.5 per cent in the year-ago quarter, up 670 basis points.
 
The auto maker said that a relatively better sales volume leading to improved capacity utilisation. The numbers were aided by cost reduction efforts, favourable foreign exchange variation and improved realisation.

Following the results, the scrip jumped 3.30 per cent to Rs 9,345 on BSE.