Maruti Suzuki Ltd results are ahead of estimates. Sales improved by ~29% yoy to Rs 20,297 cr, (~11% ahead of estimates) mainly led by surge in volumes
Volumes during the qtr came at ~4.2 lac vehicles which is up by ~18.5% yoy
EBITDA for the qtr is at 3,037 cr, (~2.8% ahead of estimates) up by ~35% yoy, mainly attributed to surge in revenues
EBITDA margin were below estimates by ~54 bps to ~14.96%, mainly due to adverse forex movement
PAT at ~Rs2,398 cr is up by ~60.2% yoy (~28% ahead of estimates) led by surge in EBITDA