ManagementMaruti at new high, stock triples in six months
Maruti Suzuki zoomed to a high of Rs 1,397, and finally settled at Rs 1,378, up 6.5% from the previous close. The counter witnessed trades of 482,292 shares, four times its two-week daily average traded volumes of 143,563 shares.
________________________________________________________
Operating profit for the quarter ending June increased by about 45% to Rs 641 crore. The EBITDA (Earnings Before Interest Taxes Depreciation and Amortisation) was marginally up from 12.1% last year to 12.5% this year.
Maruti Suzuki manufacturer and exporter of automobiles, collaborated with Suzuki of Japan. Suzuki Motor Corp of Japan, which is one of the largest automobile giants has 54% stake in Maruti Suzuki.
While sales for the overall passenger vehicle industry for the April–June period grew by 3.8%, Maruti Suzuki’s vehicle sales grew by an impressive 9.61%, selling 197,415 units. The company’s surge in sales revenue comes from both selling more units of vehicles and deriving better margins from new models like the A-Star and the Ritz in the domestic market.