Maruti Suzuki Posts Rs 2,240 Crore Q2 Profit, Beats Analysts' Estimates

Maruti Suzuki India on Thursday 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, news agency Reuters 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.