Maruti Suzuki shares accelerated sharply after the company posted its earnings for the quarter ended June

What Happened: The auto giant’s standalone net profit for the quarter came in at ₹3,649.9 crore, up around 47% from the ₹2,485 crore profit booked in the same quarter last year. The company’s revenue from operations stood at ₹35,531 crore, a 10% increase from the ₹32,326 crore posted in the corresponding quarter of the previous year.

This was a beat on both revenue and profit estimates. Analysts expected the auto giant’s revenue to come in at ₹35,065 crore, while profit was seen at ₹3,373.50 crore.

EBITDA for the April-June quarter came in₹4,502 crore, up over 50% from the ₹2,983 crore posted in the same quarter last year. EBITDA margin expanded at 12.7%.

The company sold 5.22 lakh units during the June quarter, marking an increase of 5% year-on-year. This growth was driven by higher sales in the SUV segment, which were up 29% YoY.

Price Action: Maruti Suzuki’s share price was up 3.89% to hit an all-time high of ₹13,375 on Wednesday.

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