Maruti Suzuki
beat street expectations Saturday as fourth quarter net profit fell
lower-than-expected 3% from a year ago to Rs 640 crore, helped by a
rebound in sales and a surge in other income.
Net sales for the three-month-period were up 17% year-on-year to Rs 11,486.4 crore.
On a sequential basis, the company's net profit more than trebled, while net sales were up 50% over Oct-Dec quarter.
Analysts on average had expected Maruti to report a fourth quarter profit of Rs 530 crore on revenue of Rs 12,012 crore.
Other income, which more than doubled to Rs 296.85 crore, also put brakes on the declining profits.
In the fourth quarter, Maruti's raw material costs rose 18% year-on-year to Rs 8,874.10 crore.
Its EBITDA (earnings before interest, taxes, depreciation and
amortization) margin was down 270bps year-on-year, but up 200 bps
sequentially at 7.3%.
During the
quarter, the company sold 3,60,334 units, up 4.9% year-on-year.For the full year (2011-12), Maruti Suzuki's total sales volumes declined near 11% from a year ago to 11,33,695 units.
Maruti Suzuki shares closed up 1.1% at Rs 1,397.45 on NSE on Friday. The stock is up over 50% since Dec-end.
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