NEW DELHI: Maruti Suzuki on Thursday said its profit for the September quarter slipped 9.8 per cent year-on-year (YoY) to Rs 2,240.40 crore. Analysts in an ET Now poll had estimated the profit figure at Rs 2,041 crore.
This was against Rs 2,484.30 crore profit the largest domestic carmaker had reported in the year-ago period.
The carmakers profit number was down as sales volumes for the quarter declined 1.5 per cent to 4,84,848 units.
Net sales for the quarter at Rs 21,551.90 crore was up mere 0.5 per cent over the year-ago period.
Operating ebit for the quarter fell 9.5 per cent to Rs 2,710.10 crore, while profit before tax was down 8.3 per cent at Rs 3,211 crore on a yearly basis.
Operating ebit margin fell to 12.6 per cent in September quarter from 14 per cent last year due to adverse foreign exchange variation, commodity prices and higher sales promotion expenses. The margin fall was restricted partially by cost reduction efforts, the company said.
The automaker expected higher interest rates and fuel prices going ahead. It sees adverse foreign exchange and rising commodity prices, but was confident of its product portfolio.
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