Maruti Suzuki India on Friday reported a standalone net profit of Rs 2,061 crore for the three months to September, a fourfold jump year-on-year. Profits were buoyed by the improved supply of chips that boosted production and a weaker yen.
The total revenue from operations at the country’s biggest carmaker grew by 46 per cent y-o-y to Rs 29,930 crore, driving up the operating profit margin to a seven-quarter high of 9.3 per cent. The stock ended Friday’s session at Rs 9,494.10, on the BSE, up nearly 5 per cent over Thursday’s close as investors cheered the results. Chairman RC Bhargava said in a post-earnings media call that the company was expecting overall sales by the end of this year to be roughly of the same order as in 2018-19. FE
