Good sales, low base push Maruti Suzuki India Q3 net profit up two-fold

Feb 07 2013, 14:53 IST
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Maruti' net sales during the period under review stood at Rs 10,956.95 crore. (Reuters) Maruti' net sales during the period under review stood at Rs 10,956.95 crore. (Reuters)
SummaryMaruti' net sales during the period under review stood at Rs 10,956.95 crore.

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Commenting on the results, Kotak Securities Auto Analyst Arun Agarwal said: "Maruti Suzuki reported strong Q3 FY'13 numbers. Revenues came in ahead of expectation on account of better than expected average selling price. EBITDA margin at 8 per cent though was in line with our estimates."

Expectation of improvement of passenger car demand, coupled with strong product portfolio, is expected to help the company post healthy volume growth next fiscal, and margins in FY'14 should receive boost from depreciating Yen, he added.

IndiaNivesh Securities Head Research Daljeet S Kohli said MSI's third quarter results were above expectations.

Sales volume increase was led by recovery in the festive demand and low base due to labour issues last year, he added.

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