Maruti Suzuki reports 60% jump in Q2 net profit; margin expands to 14.96%
India's biggest carmarker Maruti Suzuki on Thursday posted a 60.18 per cent year-on-year growth in September quarter profit at Rs 2,398 crore compared with Rs 1,497 crore reported for the year-ago quarter.
Total income grew 29.28 per cent year on year to Rs 20,296.80 crore from Rs 15,699.70 crore in the year-ago quarter. In June quarter, the carmarker had posted net sales of Rs 14,654 crore.
Margins came in at 14.96 per cent because of forex hit and rising raw material costs, but capacity utilsation of over 100 per cent largely helped offset the impact. The company had reported margins of 14.8 per cent for June quarter and 16.3 percent for the same quarter last year.
Volumes for the quarter stood at 4.18 lakh vehicles, up 18.4 per cent YoY helped both top line and bottom line growth.
