Earnings

Maruti Suzuki's consolidated net profit rises 2% YoY to Rs 1,419 crore

Updated : October 30, 2020 11:48 AM IST

CNBC-TV18 poll predicted the net profit to be at Rs 1,522 crore.

Revenue from operations surged 10.34 percent YoY to Rs 18,755 crore as compared to Rs 16,997 crore in the same quarter last year.

High sales volumes lead to improved capacity utilization, said the company's press release.

Maruti Suzuki on Thursday reported a 2 percent rise in the consolidated net profit for the quarter ended September at Rs 1,419 crore as against Rs 1,391 crore in the corresponding quarter last year.

CNBC-TV18 poll predicted the net profit to be at Rs 1,522 crore.

Revenue from operations surged 10.34 percent YoY to Rs 18,755 crore as compared to Rs 16,997 crore in the same quarter last year.

#2QWithCNBCTV18 | Maruti says adverse commodity prices & forex fluctuation impacted Q2 margin pic.twitter.com/loxLC3SHq2
— CNBC-TV18 (@CNBCTV18Live) October 29, 2020

Earnings before interest, tax, depreciation and amortization (EBITDA) surged 20 percent YoY to Rs 1,933 crore while margins improved to 10.3 percent from 9.5 percent led by lower sales promotion and advertising expenses.

Sales in the domestic market was up 18.6 percent to 3.7 lakh units. High sales volumes lead to improved capacity utilization, said the company's press release.

Maruti Suzuki India said it expects the pent-up demand for cars to last at least till December this year.

In an interview to CNBC-TV18, R C Bhargava, Chairman, said, "Though growth is certainly back, it is yet to reach the levels the company has seen in the last couple of years."

Maruti Suzuki's consolidated net profit rises 2% YoY to Rs 1,419 crore

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