Maruti Suzuki Q3 net profit accelerates 24 pc to Rs 1,941 cr

Maruti Suzuki India reported 24 per cent year-on-year jump in its net profit to Rs 1,941 crore for the October to December quarter while revenue from operations rose by 13 per cent to Rs 23,458 crore.

Maruti Suzuki India reported 24 per cent year-on-year jump in its net profit to Rs 1,941 crore for the October to December quarter while revenue from operations rose by 13 per cent to Rs 23,458 crore. The company sold 4.95 lakh vehicles during the quarter, up by 13.4 per cent compared to the same period of the previous fiscal year. Sales in the domestic market totalled 4.67 lakh units, growing by 13 per cent while exports were at 28,528 units, higher by 20 per cent.

The company reported operating profit growth of 19.3 per cent year-on-year to Rs 1,485 crore. The growth was on account of higher sales volume and cost reduction efforts partially offset by an increase in commodity prices and adverse foreign exchange movement. The company's bottomline was helped by a 27 per cent year-on-year rise in other income in the quarter to Rs 994 crore.

India's largest carmaker said that capacity utilisation in the quarter improved which reflected in the double-digit volume growth for the company. The operating profit was helped by lower promotional costs and overall cost reduction efforts. (ANI)