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MARUTI SUZUKI Announces Quarterly Results (2QFY19); Net Profit Down 9.8%

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MARUTI SUZUKI Announces Quarterly Results (2QFY19); Net Profit Down 9.8%
Fri, 9 Nov

MARUTI SUZUKI has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

MARUTI SUZUKI Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m217,682224,594224,332-0.1%3.1%
Other incomeRs m5,2292,7185,26693.7%0.7%
TurnoverRs m222,911227,312229,5981.0%3.0%
ExpensesRs m180,907191,083190,019-0.6%5.0%
Gross profitRs m36,77533,51134,3132.4%-6.7%
DepreciationRs m6,8257,1987,2120.2%5.7%
InterestRs m15020725724.2%71.3%
Profit before taxRs m35,02928,82432,11011.4%-8.3%
TaxRs m10,1869,0719,7067.0%-4.7%
Profit after taxRs m24,84319,75322,40413.4%-9.8%
Gross profit margin%16.914.915.3
Effective tax rate%29.131.530.2
Net profit margin%11.18.79.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 3.1% on a year-on-year (YoY) basis. The expenses were up by 5.0% YoY during the same period.
  • The company's operating profit declined by 6.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.3% in 2QFY19 as against 16.9% in 2QFY18.
  • Depreciation charges increased by 5.7% and finance costs increased by 71.3% YoY, respectively.
  • Other income increased by 0.7% YoY during the quarter.
  • Net profit for the quarter declined by 9.8% YoY. Net profit margins during the quarter declined from 11.1% in 2QFY18 to 9.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.6% QoQ during the same period.
  • The company's operating profit increased by 2.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.3% in 2QFY19 as against 14.9% in 1QFY18.
  • Net profit for the quarter increased by 13.4% QoQ, while net profit margins increased from 8.7% in 1QFY18 to 9.8% in 2QFY19.

To see how MARUTI SUZUKI has performed over the last eight quarters, please visit here.

MARUTI SUZUKI Share Price Performance

Over the last one year, MARUTI SUZUKI share price has moved up from Rs 8,202.0 to Rs 7,266.4, registering a Loss of Rs 935.6 or around 11.4%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 20,850.5 (up 0.6%). Over the last one year it has moved down from 25,090.5 to 20,850.5, a gain of 4,240 points (down 16.9%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 7,266.4, the price to earnings (P/E) ratio of MARUTI SUZUKI stands at 27.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.2 times.

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