Maruti Suzuki Reports 5-pc rise in Profit, Stock Slips

Auto-Stocks

Maruti Suzuki Inda Ltd on Tuesday afternoon session slipped over 2 percent in share price even after the leading automobile manufacturer posted a 5 percent jump in the profit for the December quarter.

The Auto major today, January-28, approved the financial results of the company for the period Oct-Dec 2019 (Q3 FY20) during market hours. To avail updated Stock Tips and free trading tips visit our website.

As per the Q3 outcome, the Company reported a 5 percent jump in net profit on year-on-year-basis at Rs.1546.80-Cr. In comparison, the company had posted a profit of Rs 1489.30 crore in the year-ago period.

Maruti’s sales in the Indian market reportedly recorded at 4,13,698 units, higher by 2-percent while the exports scaled at 23,663-units.

Post the announcement of results, the stock of Maruti Suzuki traded lower by 2.25 percent or Rs.160.55 at Rs. 6988-per share on the NSE at around 2.45-pm. On the BSE too, the scrip traded lower by similar margins at Rs.6983.75.

Meantime, the benchmark Sensex slipped sharply by 258-points at 40896, and the NSE-Nifty stood at 12029, down by 83-points. The Nifty-Auto index also slipped 1.37-pc at 8145-level with major falls in Maruti-Suzuki along with as TVS Motors, and Tata Motors.

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