Country's leading car company There is a big fall in the shares of Maruti Suzuki India (MSI) today. The stock is trading down about 5% at Rs 10,962.75 till 3 pm. During trading the share fell to Rs 10762. After all, what is the reason why such a huge decline is being seen in the stock? Market experts say that this decline in Maruti's shares has come due to weak quarterly results. Today all major auto stocks are down. Selling is dominant in auto stocks due to lack of demand for vehicles even during the festive season. A big decline is being seen in the stocks of Tata, Mahindra and Bajaj.
Profit declined by 18 percent to Rs 3,102 crore
The consolidated net profit of the country's leading car company Maruti Suzuki India (MSI) for the second quarter of the current financial year 2024-25 ended in September has declined by 18 percent on an annual basis to Rs 3,102 crore. The company had earned a net profit of Rs 3,786 crore in the second quarter of the last financial year 2023-24. In the information sent to the stock exchanges, the company said that its operating income during the quarter increased to Rs 37,449 crore, which was Rs 37,339 crore in the same quarter of the previous financial year.
Revenue and Volume
Maruti Suzuki's operating revenue grew marginally 0.4% year-on-year (YoY) to ₹37,202.8 crore in the July-September quarter from ₹37,062.1 crore. Maruti Suzuki sold a total of 541,550 vehicles during the September quarter, of which the domestic market volume was 463,834 vehicles and export volume was 77,716 vehicles. While domestic volumes declined by 3.9%, export volumes rose by 12.1% compared to the same period last year. At the operational level, the auto major's earnings before interest, taxes, depreciation and amortization (EBITDA) during the quarter ended September fell 7.7% to ₹4,417 crore from ₹4,784 crore, while EBITDA margin contracted by 100 basis points (bps). Decreased from 12.9% to 11.9%.
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