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Maruti Q2 Result: Quarterly profit up 4 times, sales break records, big jump in stock

Highlights

Maruti Suzuki India today presented its quarterly results on Friday.
Production was affected due to shortage of electronic components.
Shares of Maruti Suzuki closed higher by 4.98 per cent (Rs 450.60).

New Delhi. The country’s largest car maker Maruti Suzuki India today announced its second quarter results on Friday. The entire auto sector was happy with these results. Maruti’s stock also made a tremendous jump today and due to this, the auto sector was the biggest growing sector today.

According to the results of Maruti Suzuki India, the company’s consolidated net profit grew more than 4 times to Rs 2,112.5 crore in the second quarter of the current financial year. The company gave this information to the stock exchanges on Friday. The company said that its profit has increased due to record sales in the July-September quarter. The company had posted a consolidated net profit of Rs 486.9 crore in the same quarter of the previous financial year.

Also read – Share Market: Auto sector happy with Maruti’s tremendous results, Sensex jumps 200 points

Most units sold in this quarter
According to Maruti Suzuki, its total operating income has increased to Rs 29,942.5 crore in the same quarter from Rs 20,550.9 crore a year ago. The automaker sold a total of 5,17,395 vehicles during the second quarter, which is its highest sales in any quarter. During this, the company’s sales in the domestic market stood at 4,54,200 units.

Maruti Suzuki said that production of about 35,000 vehicles was affected due to shortage of electronic components. In the same quarter last year also, the company’s sales stood at 3,79,541 units due to acute shortage of these devices.

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huge jump in stock
The entire auto sector was in awe of the company posting its quarterly results. During this, the share of Maruti Suzuki closed at Rs 9,494.55, up 4.98 per cent (Rs 450.60). Today it was open at 9,095. The largest volume has also been seen on this day after May 31 this year. Today’s volume is more than 18 lakhs as compared to 20 days average volume (about 5 lakhs).

Maruti’s stock has once again reached very close to its all-time high. It made an all-time high of Rs 9,996.40 on the NSE on 20 December 2017 (about 5 years ago). After that it reached Rs 9,929 on 24 July 2018, but could not make a new high. Once again this stock is very close to its high.

Tags: business news, Business news in hindi, Maruti Suzuki, Share market, stock market

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