Maruti Suzuki shares rise nearly 2% as Q2 results beat market expectations

Key highlights:

• Maruti Suzuki posted a marginal growth of 3.4% in its net profit
• Its net profit as it grew to Rs 2,484.3 crore in the quarter ended September 30, 2017
• Maruti Suzuki results beat analyst estimates as the company's shares rose by nearly 2% on BSE

Maruti Suzuki posted a marginal growth of 3.4% in its net profit as it grew to Rs 2,484.3 crore in the quarter ended September 30, 2017 from Rs 2,401.5 crore in the same quarter last year. The country's leading automobile company posted a revenue growth of 7.1% as its total revenue grew to Rs 21,768.2 crore in Q2 FY18 from Rs 20,322.7 crore in Q2 FY17.

However, despite the small growth in profits and revenue during the quarter the Maruti Suzuki results beat analyst estimates as the company's shares rose by nearly 2% on BSE.

The shares of Maruti Suzuki were trading up at 1.56% or Rs 125.60, at Rs 8202.10 per piece at 13:54 hours on BSE. On NSE it was up 1.29% or Rs 104.05, at Rs 8,172.10 per piece at 13:57 hours.

Maruti Suzuki's revenues from its vehicle sales grew to Rs 21,438.1 crore in Q2 FY18 from Rs 20,048.6 crore in the same quarter last year. Other operating revenues stood at Rs 330.1 crore during this quarter from Rs 274.1 crore in the same quarter last year.

It's total expenses grew to Rs 18,788.2 crore in Q2 FY18 from Rs 17,935 crore in Q2 FY17.

Maruti Suzuki clocked in a profit before tax of Rs 3,502.9 crore in Q2 FY18 in comparison with Rs 3,206.6 crore in the same quarter last year.

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