MARUTI SUZUKI Announces Quarterly Results (2QFY20); Net Profit Down 39.4%

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MARUTI SUZUKI Announces Quarterly Results (2QFY20); Net Profit Down 39.4%
Tue, 29 Oct

MARUTI SUZUKI has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

MARUTI SUZUKI Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m224,332197,198169,853-13.9%-24.3%
Other incomeRs m5,2668,3649,20010.0%74.7%
TurnoverRs m229,598205,562179,053-12.9%-22.0%
ExpensesRs m190,019176,720153,790-13.0%-19.1%
Gross profitRs m34,31320,47816,063-21.6%-53.2%
DepreciationRs m7,2129,1869,2610.8%28.4%
InterestRs m257547282-48.4%9.7%
Profit before taxRs m32,11019,10915,720-17.7%-51.0%
TaxRs m9,7064,7542,134-55.1%-78.0%
Profit after taxRs m22,40414,35513,586-5.4%-39.4%
Gross profit margin%15.310.49.5
Effective tax rate%30.224.913.6
Net profit margin%9.87.07.6
* 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 fell 24.3% on a year-on-year (YoY) basis. The expenses were down by 19.1% YoY during the same period.
  • The company's operating profit declined by 53.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.5% in 2QFY20 as against 15.3% in 2QFY19.
  • Depreciation charges increased by 28.4% and finance costs increased by 9.7% YoY, respectively.
  • Other income increased by 74.7% YoY during the quarter.
  • Net profit for the quarter declined by 39.4% YoY. Net profit margins during the quarter declined from 9.8% in 2QFY19 to 7.6% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 13.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 13.0% QoQ during the same period.
  • The company's operating profit declined by 21.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.5% in 2QFY20 as against 10.4% in 1QFY19.
  • Net profit for the quarter declined by 5.4% QoQ, while net profit margins increased from 7.0% in 1QFY19 to 7.6% in 2QFY20.

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

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MARUTI SUZUKI Share Price Performance

Over the last one year,MARUTI SUZUKI share price has moved up from Rs 6,798.5 to Rs 7,571.3, registering a Gain of Rs 772.9 or around 11.4%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,696.8 (up 2.9%). Over the last one year it has moved down from 19,627.0 to 18,696.8, a gain of 930 points (down 4.7%).

Overall, the S&P BSE SENSEX is up 16.1% over the year.

Current Valuations

At the current price of Rs 7,571.3, the price to earnings (P/E) ratio of MARUTI SUZUKI stands at 37.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.9 times.

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