Maruti Suzuki Shares Surge 2% on Strong Q3 Earnings
Jan 31, 2024 17:01
Maruti Suzuki India's shares climbed over 2% after reporting a 33% jump in net profit for the December quarter, driven by higher sales. The company's revenue also saw a significant increase.
Photograph: Anindito Mukherjee/Reuters
New Delhi, Jan 31 (PTI) Shares of Maruti Suzuki India on Wednesday climbed more than 2 per cent after the company reported 33 per cent increase in consolidated net profit at Rs 3,207 crore for the December quarter, on account of higher sales.
The company's stock went up by 2.27 per cent to settle at Rs 10,183.30 apiece on the BSE. During the day, it jumped 2.83 per cent to Rs 10,239.70.
On the NSE, it climbed 2.10 per cent to Rs 10,161.05 per share.
The company had posted a net profit of Rs 2,406 crore for the year-ago period, Maruti Suzuki India (MSI) said in a regulatory filing.
Total revenue from operations was up 15 per cent at Rs 33,513 crore as compared with Rs 29,251 crore in the year-ago period, it added.
The country's largest carmaker sold a total of 5,01,207 vehicles during the period under review as compared with 4,65,911 units in the October-December period of last fiscal, an increase of 8 per cent.
Despite the small car segment continuing to be subdued, the company registered sales of 4,29,422 units in the domestic market, MSI stated.
It had sold 4,03,929 units in the domestic market in the year-ago period.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.