Maruti Suzuki posts impressive Q2 results, stock hits record high

Automobile bellwether Maruti Suzuki reported impressive Q2 financial results on Friday, surpassing analysts’ expectation. Reacting to the results, the stock touched a new intraday high of Rs. 8,240 per share.

The company registered a 3.4 per cent increase in its September quarter net profit at Rs. 2,484.3 crore against Rs. 2,401.5 crore posted during the same period last year.

The company’s revenues for the quarter rose 21.8 per cent to Rs. 21,768 crore from Rs. 17,869 crore during the same period last year. The company sold a total of 4,92,118 vehicles during the quarter, registering 18 per cent growth over the same period last year. The company’s sales in the domestic market increased 19 per cent.

The company's earnings before interest, taxes, depreciation and amortisation rose 21.1 per cent to Rs. 3,677 crore against Rs 3,036 crore during same period last year. The operating margin came in at 16.9 per cent against 17 per cent in Q2FY17.

At 2:30 pm, Maruti Suzuki was trading at Rs. 8,160 per share, up Rs. 91.95 or 1.14 per cent from its previous closing price of Rs. 8,068.05. The scrip opened at Rs. 8,123.95 and touched a high and low of Rs. 8,240 and Rs 8110.15, respectively on the NSE. The scrip attracted a traded volume of 10,24,428 shares on the NSE.