BoB Capital Markets pegged Maruti’s adjusted profit at Rs 1,130.40 crore. It sees sales rising 325 per cent YoY to Rs 17,465.40 crore from Rs 4,106.50 crore YoY. It will be down 27.3 per cent sequentially from over Rs 24,023.70 crore sales the car maker reported in the March quarter, the brokerage said.
“Led by a 28 per cent fall in sequential volumes and a 2 per cent rise in average selling price (due to price hikes), we expect a 27 per cent sequential revenue decline. Operating margin is seen contracting 120 basis points QoQ, given the raw material cost pressure. We model in 3 per cent sequential de-growth in adjusted PAT, partially supported by higher other income at Rs 1,130 crore,” the brokerage said.
Emkay Global sees profit at Rs 797.40 crore, down 32 per cent sequentially. It sees sales climbing 340 per cent YoY to Rs 18,054 crore but falling 28 per cent sequentially. Ebita margin is seen falling 328 basis points sequentially to 5 per cent from 8.3 per cent, thanks to due to commodity inflation, higher discounts and lower scale.
