Maruti Suzuki moves higher post Q1 results

MUMBAI: Shares of India's largest car maker Maruti Suzuki moved in the positive terrain after the company announced first quarter results for FY14, but the stock pared gains and turned negetive.

The stock closed at Rs 1414.20, down 0.12 per cent, on the BSE. It touched a high of Rs 1,452 and a low of Rs 1,402.30 in trade today.
The company’s net profit increased to Rs 632 crore, up 49.1 per cent, as compared to a net profit of Rs 423.8 crore in the corresponding quarter last fiscal.

Total income for the quarter slipped to Rs 10,237.3 crore, down 5 per cent, from Rs 10,778.2 crore in year-ago period.

EBITDA margins for April-June quarter increased to 11.4 per cent vs 7.3 per cent, Year-on-Year (YoY).

The company reported other income of Rs 204 crore vs Rs 112 crore YoY

Forex gain & cost reduction have helped Q1 results and have improved export realizations, the management said

The company has sold 2.66 lakh units in the quarter.