Maruti Suzuki Q3 net profit zooms 47.46% at Rs 1,744.5 cr

 

Maruti Suzuki Q3 net profit zooms 47.46% at Rs 1,744.5 cr

 

 

  Maruti Suzuki India on Wednesday reported a 47.46% jump in standalone net profit at Rs 1,744.5 crore for the December quarter, riding on increased share in higher segment models, lower sales and promotion expenses, and cost reduction exercise.

 

The company had posted a net profit of Rs 1,183 crore in the same quarter last fiscal, Maruti Suzuki India (MSI) said in a statement.

Total income from operations during the quarter under review stood at Rs 19,173.1 crore as against Rs 16,957.6 crore in the year-ago period, up 13.06%.

Unit volume sales during the period stood at 3,87,251 units, up 3.5%, over the same period a year ago. Of this, exports stood at 30,748 units, it said.

Commenting on the results, MSI said: "Increase in share of the company's higher segment models, lower sales promotion and marketing expense, cost reduction efforts and higher non-operating income contributed to increase in profits."

This was, however, partially offset by the increase in commodity prices and adverse foreign exchange movement during the quarter, it added.

For the nine month period ended December 31, the company said it sold a total of 1,154,164 vehicles, a growth of 8%. Out of this, exports stood at 92,291 units.

Shares of MSI were trading 0.62% higher at Rs 5,775 apiece on BSE.