Maruti Suzuki's stock up 5% after results; Net profit up 4 times to Rs 2,061 crore
Maruti Suzuki Q2FY23 Result: Net profit up 4 times to Rs 2,061 crore, company's stock up 5% after results
The country's largest car company Maruti Suzuki announced the results for the second quarter (Q2FY23) ended September 2022 on Friday (October 28). In this quarter, the company's net profit increased by 333% ie 4 times year-on-year to Rs 2061 crore. It was Rs 475 crore in the same quarter last year.
The company's standalone revenue in the second quarter grew 46% year-on-year to Rs 29,931 lakh crore, from Rs 20,538 lakh crore in the previous year. The company's operating profit (EBITDA) for the quarter increased by nearly 42% to Rs 2,046.30.
It was Rs 855 crore in the same quarter last year. At the same time, the company's operating profit margin (EBITDA margin) increased by 505 bps to 9.25% from 4.2%.
The company sold a total of 5,17,395 vehicles during the quarter, which is the highest in any quarter. In the domestic market, the company has sold 4,54,200 units. The company had the highest-ever sales revenue in the second quarter of FY2023.
After the spectacular results of Maruti Suzuki, the company's stock also saw a tremendous rise. On Friday (October 28), the company's shares closed at 9,548 with a gain of about 5.60%.
Not only this, but the company's stock had also touched the level of 9,549.95, making a new high of 52 weeks during trading. This is the biggest gain in Maruti's shares in the last 4 months.
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