Maruti Suzuki shares settle nearly 2 pc high after strong June quarter earnings

New Delhi, Aug 1 (PTI) Shares of Maruti Suzuki India climbed nearly 2 per cent on Thursday after the homegrown automobile major reported a 47 per cent jump in net profit to Rs 3,650 crore for the June quarter.

The stock rose 1.73 per cent to close at Rs 13,343.05 apiece on the NSE. On the BSE, it settled at Rs 13,300.70 per piece, up by 1.01 per cent.

During the day, the shares of the Gurugram-based automobile major hit a 52-week high of Rs 13,680 on the NSE and 13,675 apiece on BSE.

On the volume front, 20.40 lakh equity shares were traded on the NSE while 69,027 shares changed hands on the BSE during the day.

The 30-share Sensex climbed 126.21 points or 0.15 per cent to settle at a new lifetime high of 81,867.55. The NSE Nifty rose 59.75 points or 0.24 per cent to settle at an all-time closing high of 25,010.90.

In a regulatory filing on Wednesday, Maruti Suzuki India reported a 47 per cent jump in net profit to Rs 3,650 crore for June quarter, riding on the back of cost reduction efforts, favourable commodity prices and foreign exchange gains.

The auto major had logged a net profit of Rs 2,485 crore in April-June FY24.

Net sales increased to Rs 33,875 crore in the June quarter as compared with Rs 30,845 crore in the year-ago period, the company said.

The country’s largest carmaker said it sold 5,21,868 vehicles during the first quarter, up 5 per cent as compared to the same period previous fiscal.

The company said it sold 4,51,308 units in the domestic market in the first quarter, an increase of 4 per cent over the same period of FY24.