Maruti Suzuki wins hearts on D-Street with more than two-fold jump in profit, 310 bps surge in margin
Maruti Suzuki Q3 Results: Indias largest carmaker reported a more than two-fold year-on-year jump in net profit to Rs 2,351.3 crore for the quarter ended December 2022, far exceeding analysts estimates. Its margin improved by 310 points compared with the year-ago period.
Maruti Suzuki Q3 Results: Maruti Suzuki India — the country's largest carmaker — on Tuesday reported a more than two-fold jump in net profit to Rs 2,351.3 crore for the quarter ended December 2022 compared with the corresponding period a year ago, far exceeding analysts' estimates. The New Delhi-based auto manufacturer had reported a net profit of Rs 1,011.3 crore for the quarter ended December 2021.
Revenue of the auto major expanded 24.9 per cent to Rs 29,044.3 crore, according to a regulatory filing.
According to Zee Business research, Maruti Suzuki's quarterly net profit was estimated at Rs 1,922 crore and revenue at Rs 27,379 crore.
The company's margin — a key measure of profitability — improved by 310 basis points to 9.8 per cent compared with the year-ago period.
Maruti Suzuki shares extended intraday gains after the earnings announcement, finishing the day higher by Rs 275.5 or 3.3 per cent to Rs 8,698.6 apiece on BSE.
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