Maruti Suzuki share price slips 2% post Q2 numbers

Maruti Suzuki share price slipped over 2 percent intraday on October 29 after the company reported its Q2FY21 numbers.

India's largest passenger vehicle manufacturer reported one percent year-on-year growth in Q2 FY21 standalone profit on October 29. However, a 16 percent volume growth pushed revenue by 10 percent higher on a year-on-year basis (YoY).

Standalone profit increased to Rs 1,371.6 crore in the quarter ended September 2020, against Rs 1,358.6 crore in the same period last year. In Q1 FY21, the company had posted a loss of Rs 249.4 crore.

Revenue during the quarter jumped 10.4 percent to Rs 18,744.5 crore compared to the year-ago period.

The company sold 1,60,442 units in September 2020 – a 30.8 percent growth over the same period previous year, where it sold 122,640 units.

Total sales included domestic sales of 1,50,040 units, export of 7,834 units, and sale of 2,568 units for other OEMs.

At 14:21 hrs Maruti Suzuki India was quoting at Rs 7,071.70, down Rs 114.35, or 1.59 percent on the BSE.

The share touched its 52-week high Rs 7,755 and 52-week low Rs 4,002 on 29 October, 2019 and 03 April, 2020, respectively.