Maruti Suzuki Q2 net down 5% to Rs 227 cr; stock up

Stocks

oi-Sneha

By Sneha B K

Updated: Tuesday, October 30, 2012, 15:47 [IST]

Maruti Suzuki reported a 5.4% decline in its net profit of Rs 227 crore for the quarter ended September 30, 2012 as compared to Rs. 240 crore for the quarter ended September 30, 2011.

However, the company reported 8.5% rise in its net sales at Rs 807 crore against the same period in the previous year.

The growth in sales is due to new model Ertiga and enhanced export realizations, the company said in the press release.

Total Income has increased from Rs 784 crore for the quarter ended September 30, 2011 to Rs 846 crore for the quarter ended September 30, 2012.

The market showed a marked preference for diesel cars, while demand for petrol vehicles dropped sharply. Despite scaling up production of diesel cars, the Company has a customer wait list of nearly 1.25 lakh for its diesel vehicles. To counter subdued demand for petrol cars, the Company enhanced sales promotion measures that also impacted profitability.

Shares of the company ended the day higher by 1.20% to Rs 1379 on BSE. It touched an intrady high of Rs 1419.

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