Maruti Suzuki's Q1 profit up 27% to Rs 1,975 crore; sales in domestic market registers growth of 25.9%
Maruti Suzuki India's sales during the period under review stood at Rs 21,810.7 crore
New Delhi: The country's largest carmaker Maruti Suzuki India (MSI) on Thursday reported 26.91% percent increase in standalone net profit to Rs 1,975.3 crore for the first quarter ended 30 June, 2018-19.
It had posted a net profit of Rs 1,556.4 crore in the April-June period of last fiscal, 2017-18, MSI said in a regulatory filing.
Its sales during the period under review stood at Rs 21,810.7 crore. They were at Rs 19,374.1 crore.
MSI said the two figures are not comparable as revenues from operation are reported net of GST since the implementation of the new tax regime in July 2017.
During the first quarter of the current fiscal, MSI sold 4,90,479 vehicles, a growth of 24.3 percent over the year-ago period.
"Sales in the domestic market stood at 4,63,840 units, a growth of 25.9 percent. Exports were at 26,639 units," it said.
During the period, operating margins improved due to lower advertisement expense but was partially offset by adverse commodity prices.
MSI stock was trading nearly 3 percent down at Rs 9,466.10 on BSE in the afternoon.
After initial losses, BSE Sensex rose by 0.41 percent or 233.25 points to 57,340.40, while NSE Nifty 50 opened at 17,055.80 and rose by 0.08 percent, gaining 12.90 points to 17,039.35
In terms of sectoral indices, auto, media and metal incurred losses of over 3 percent, while pharma rose by 1.70 percent. India VIX rose by 24.84 percent to jump to 20.80 levels. BSE Midcap fell by 3.23 percent to 24,846.51 while BSE Smallcap declined by 2.61 percent to 24,846.51
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