Maruti Suzuki India, today reported a net profit of Rs. 2,240.4 crore in the July-September quarter. That marked a fall of 9.8 per cent from Rs. 2,484.3 crore in the corresponding period a year ago.
Twenty one analysts on average had expected the company, which is majority-owned by Japan’s Suzuki Motor Corp, to post a profit of Rs. 2,028 crore, reported citing Refinitiv data.
Net sales grew 0.5 per cent to Rs. 21,551.9 crore in the second quarter of the current financial year, from Rs. 21,438.1 crore in the year-ago period.
Total revenue from operations rose 3 per cent to Rs. 22,433 crore.
Shares in Maruti Suzuki India briefly entered the positive zone after the earnings announcement, but soon returned to the negative territory.
At 2:09 pm, shares in the carmaker were trading 1.4 per cent lower at Rs. 6,674 apiece on the BSE, whose benchmark index Sensex was down 1 per cent at 33,716.>