Maruti Suzuki drives home strong Q2FY17
Maruti Suzuki (MSIL)has declared its Q2FY17 results on Thursday. MSIL’s revenue has increased by 29.5 per cent to Rs 17595 crore in Q2FY17 on a yearly basis. The company sold total vehicles of 418470 with a growth of 18.4 per cent in Q2FY17 as compared to same period in previous fiscal. Its net profit stands at Rs 2398 crore with a growth of 60.2 per cent in Q2FY17 as compared to same period in previous financial year.
On half yearly front, MSIL’s revenue has increased by 20.9 per cent to Rs 32281 crore in H1FY17 as compared to same period in previous fiscal. The company’s net profit has increased by 43.6 per cent to Rs 3884 crore in H1FY17. MSIL is well on track to achieve double-digit growth this FY17 and is very optimistic about it.
MSIL achieved success of sales for Baleno premium hatchback and the newly launched Vitara Brezza subcompact SUV. The company has sold over one lakh units of the Baleno hatchback in India ever since the launch of the car in October 2015 and over 50000 units of the Vitara Brezza that went on sale in March 2016.
The share price of MSIL decreased by 0.21 per cent on bourses and closed at Rs 5859.75 on an intraday basis.