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Maruti Suzuki India Q2 profit misses estimates as costs rise
India’s largest automaker Maruti Suzuki India Ltd announced a July-September profit of ₹32.9 billion (~USD 374 million), up 7.3 % y/y but below expectations of ₹35.9 billion. Operating margin fell to 8.5 % from 10.3 % a year ago, due to rising commodity prices, higher promotions and expenses tied to a new plant planned in Gujarat. Domestic sales declined 5.1 % while exports jumped 42.2 %. The earnings miss prompted shares to dip in early trading.
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- India
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cautious
Maruti Suzuki India Q2 profit misses estimates as costs rise
India’s largest automaker Maruti Suzuki India Ltd announced a July-September profit of ₹32.9 billion (~USD 374 million), up 7.3 % y/y but below expectations of ₹35.9 billion. Operating margin fell to 8.5 % from 10.3 % a year ago, due to rising commodity prices, higher promotions and expenses tied to a new plant planned in Gujarat. Domestic sales declined 5.1 % while exports jumped 42.2 %. The earnings miss prompted shares to dip in early trading.
Tags:
- stocks
- India
Explore:High Return Equity Mutual Fund
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Maruti Suzuki’s Q2 profit grew but missed expectations as margins came under pressure from costs and declining domestic volumes.
India’s largest automaker Maruti Suzuki India Ltd announced a July-September profit of ₹32.9 billion (~USD 374 million), up 7.3 % y/y but below expectations of ₹35.9 billion. Operating margin fell to 8.5 % from 10.3 % a year ago, due to rising commodity prices, higher promotions and expenses tied to a new plant planned in Gujarat. Domestic sales declined 5.1 % while exports jumped 42.2 %. The earnings miss prompted shares to dip in early trading.
India’s largest automaker Maruti Suzuki India Ltd announced a July-September profit of ₹32.9 billion (~USD 374 million), up 7.3 % y/y but below expectations of ₹35.9 billion. Operating margin fell to 8.5 % from 10.3 % a year ago, due to rising commodity prices, higher promotions and expenses tied to a new plant planned in Gujarat. Domestic sales declined 5.1 % while exports jumped 42.2 %. The earnings miss prompted shares to dip in early trading.
Tags:
- stocks
- India
- stocks
- India
- auto
- earnings
- manufacturing