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Maruti Suzuki gains ahead of Q3 earnings


Maruti Suzuki India is trading higher by 2% at Rs 1,562 ahead of the third quarter results which are due later in the day today.

According to an estimate of analysts the company's net profit in Q3 is likely to double to Rs 496 crore, against a net profit of Rs 206 crore in the corresponding quarter last fiscal.

“Maruti Suzuki's revenues are expected to grow by 33% year-on-year on the back of volume growth and improved product mix,” analyst at Kotak Securities said in results preview.

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) margin is likely to be better due to weak 3QFY12 base (performance in 3QFY12 was impacted by labor issues), he added.

The stock opened at Rs 1,549 and hit a high of Rs 1,572 on the NSE. A combined 115,316 shares have changed hands on the counter so far on both the exchanges.