FUTURE SUPREME CALL:SELL NCC BELOW 55.6 TARGET 53.35 STOPLOSS 56.85
FUTURE SUPREME UPDATE: SELL CALL NCC NEAR FINAL TARGETS HAS ACHIEVED BOOK FULL PROFIT RECENT LOW 53.90
Maruti Suzuki's net profit was down by 39.4% yoy at Rs1,358.6cr in Q2FY20 as against a profit of Rs2,240.4cr in Q2FY19.
The profit came lower on account of lower sales volume, higher sales promotion expenses and higher depreciation expenses, partially offset by cost reduction efforts, higher fair value gains on invested surplus and reduction in the corporate tax rate.
The results of the Company for the quarter (July-September) and half year (April-September) FY 2019-20 have to be viewed in the context of an exceptionally weak demand environment. This year, the automobile industry has seen a significant decline in sales owing to several factors. One of the main factors is an increase in the cost of acquisition of the car due to various reasons coming together like the implementation of more stringent safety and emission (BS6) norms, increase in vehicle insurance expenses and hike in road taxes in many states.
Along with this, the lower availability of finance and increased down payment requirement have affected the affordability of customers to own cars, the company said in the filing.
FUTURE SUPREME UPDATE: SELL CALL NCC NEAR FINAL TARGETS HAS ACHIEVED BOOK FULL PROFIT RECENT LOW 53.90
Maruti Suzuki's net profit was down by 39.4% yoy at Rs1,358.6cr in Q2FY20 as against a profit of Rs2,240.4cr in Q2FY19.
The profit came lower on account of lower sales volume, higher sales promotion expenses and higher depreciation expenses, partially offset by cost reduction efforts, higher fair value gains on invested surplus and reduction in the corporate tax rate.
The results of the Company for the quarter (July-September) and half year (April-September) FY 2019-20 have to be viewed in the context of an exceptionally weak demand environment. This year, the automobile industry has seen a significant decline in sales owing to several factors. One of the main factors is an increase in the cost of acquisition of the car due to various reasons coming together like the implementation of more stringent safety and emission (BS6) norms, increase in vehicle insurance expenses and hike in road taxes in many states.
Along with this, the lower availability of finance and increased down payment requirement have affected the affordability of customers to own cars, the company said in the filing.
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