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Shares of Maruti Suzuki India rose over 2% to Rs 11,325 in morning trade on December 2; Key points investors should know
Maruti Suzuki Baleno Regal Edition. (File photo)
Shares of Maruti Suzuki India rose over 2% to Rs 11,325 in morning trade on December 2 after the company reported a 10% year-on-year increase in total sales, reaching 1,81,531 units in November 2024, up from 1,64,439 units in the same month last year.
Sales of mini cars, including the S-Presso and Alto, totaled 9,750 units, a slight decline from 9,959 units. Compact car sales (Dzire, Baleno, Celerio, Swift, Tour S, Ignis, WagonR) fell by 5.1% to 61,373 units, compared to 64,679 units in November 2023.
Utility vehicle sales (Brezza, Grand Vitara, Ertiga, XL6) rose to 59,003 units, up from 49,016 units last year. Van sales of the Eeco increased to 10,589 units, compared to 10,226 units previously, while light commercial vehicle sales of the Super Carry grew to 2,926 units, up from 2,509 units.
For Q2 FY25, Maruti Suzuki reported an 18% decline in net profit, which fell to Rs 3,103 crore. Revenue from operations for the July-September quarter rose marginally by 0.3% year-on-year to Rs 37,449 crore, exceeding the consensus estimate of Rs 37,128 crore.
The drop in net profit was primarily due to a deferred tax liability of Rs 1,018 crore, partly resulting from regulatory changes affecting indexation benefits and tax rates on capital gains from debt mutual funds, a matter previously disclosed by the company in August.
Despite the weak earnings, the company saw resilience in its export market, with volumes rising 12.1% to 77,716 units, even as domestic volumes declined by 3.9% to 4.64 lakh units in the September quarter.
At around 12:40 PM, Maruti Suzuki’s shares were trading at Rs 11,285, up 2% from the previous close on the NSE. The stock has corrected by 10% since the beginning of the year.
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