Maruti Suzuki declares Q3 numbers; net profit up 27 per cent
Mayuresh Deshmukh / 29 Jan 2016
Maruti Suzuki India's largest carmaker announced its third quarter results on Thursday. The result disappointed the analysts expectations, as cost of promoting new models eroded gains from an increase in vehicle sales.
Maruti Suzuki India's largest carmaker announced its third quarter results on Thursday. The result disappointed the analysts, as cost of promoting new models eroded gains from an increase in vehicle sales.
On financial front, the consolidated net revenue from operations of Maruti reached Rs 15082 crores in Q3FY16 compared to Rs 12576 crores in Q3FY15, an increase of 20 per cent year on year (YoY). The EBITDA stood at Rs 2170 crores this quarter compared to Rs 1593 crores in Q3FY15, an increase of 36.26 per cent YoY. The EBITDA margin of company stood at 14.39 per cent this quarter compared to 12.66 per cent in Q3FY15. The net profit stood at Rs 1019 crores in Q3FY16 compared to Rs 802 crores in Q3FY15, an increase of 27.07 per cent YoY. Volumewise the company sold a total of 374182 vehicles in Q3, a growth of 15.5 per cent. Of this exports were at 31187 units, a growth of 8.6 per cent.
The Indian unit of Japan’s Suzuki Motor Corporation increased revenue this quarter by increasing volume sales and material cost reduction initiatives, which helped in increasing EBITDA by a susbstantial level. Further the favourable foreign exchange rates also contributed to the increase in net proftit this quarter.
The nine month ending consolidated net revenue from operations increased by 16.67 per cent and reached Rs 42406 crores compared to Rs 36346 crores for the same period last year. The net profit for nine month period stood at Rs 344 crores compared to Rs 243 crores, an increase of 41.64 per cent for the same period last year. Volumewise the company sold a total of 10,68,846 vehicles in April-December 2015 period, a growth of 13 per cent. Of this, exports were 96,888 units, a growth of 5.1 per cent.
Going forward the company is expecting high base of sales volume in Q4FY15, owing to new product launches, which can also increase the advertisment expenses in coming quarters. The stock of company is trading at Rs 4005 a decrease of 2.16 per cent from previous close.
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