Maruti Suzuki posted a 47.46% rise in its net profit to Rs 1,744.5 crore in Oct-Dec 2016 compared to the Rs 1,183.5 crore profit posted in the same period in 2015.
According to the company quarterly results released today, the company’s total income from operations was up at Rs 19,173.1 crore compared to Rs 16,957.6 crore posted in the same period last year, 13.07% increase.
In the quarter, Maruti Suzuki sold 387,251 vehicles, growth of 3.5% compared to the same period lsat year. Exports stood at 30,748 units.
Net sales accounted for Rs 16,623.6 crore, up 12.4% from last year.
Maruti Suzuki 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 partially offset by the increase in commodity prices and adverse foreign exchange movement during the quarter.”
Maruti Suzuki’s shares were up 0.78% or Rs 44.85 at Rs 5,780.15 apiece.