Business
Maruti Suzuki's third quarter net profit up 17.8 percent
Mumbai, Jan 27
India's largest passenger car
manufacturer Maruti Suzuki Tuesday reported an increase of 17.8 percent
in its net profit for the quarter ended Dec 31, 2014 at Rs.802.2 crore
from Rs.681.15 crore in the corresponding period of last year.
“Higher
volumes, material cost reduction initiatives and favorable foreign
exchange contributed to bottom-line during the quarter,†the company
said in a statement.
The company's total income in the period
under review grew by 15.38 percent at Rs.12,704.72 crore from
Rs.11,010.79 crore for the quarter ended Dec 31, 2013.
The
company's total sales during the third quarter jumped 12.4 percent at
323,911 units. Exports rocketed by 43.8 percent at 28,709 units.
For the first nine months of the fiscal, the company's net profit rose 22.4 percent at Rs.2,427 crore.
The
company's total sales during the period under review was up 13.9
percent at 945,703 units. Exports in the first nine months ended Dec 31
increased by 22.8 percent at 92,171 units shipped abroad.
The
company's scrip at the Bombay Stock Exchange (BSE) was up 0.93 percent
at Rs.3,642.20 per equity share (2.30 p.m.) from its previous day's
close of Rs.3,608.65.