Maruti Suzuki July-September quarter net profit grows 3.4% to Rs 2,484 cr
Maruti Suzuki's net sales rose 21.8 percent to Rs 21,438.1 crore in July-September quarter
New Delhi: Country's largest carmaker Maruti Suzuki India on Friday posted 3.4 percent rise in net profit at Rs 2,484.3 crore for the second quarter ended 30 September.
The company had reported a net profit of Rs 2,401.5 crore for the same period of previous fiscal.
Net sales rose 21.8 percent to Rs 21,438.1 crore for the quarter under review, as against Rs 20,048.6 crore a year ago, Maruti Suzuki India (MSI) said in a statement.
The company said its net profit increased by only 3.4 percent due to lower non operating income as the yields of investment were lower compared to last year.
Moreover, there was some impact of commodities and advertisement expenses along with increase in effective tax rates, it added.
During July-September period, the company sold a total of 4,92,118 vehicles, including 34,717 in overseas markets, a growth of 17.6 percent over the same period a year ago.
The company's stock was trading at Rs 8,171.45 per scrip, up 1.18 percent on BSE.
Maruti Suzuki recalls Ciaz, Ertiga, S-Cross, Vitara Brezza and XL6 to replace potentially defective MGU
Maruti Suzuki has issued a recall to inspect for a possible defect in 1,81,754 vehicles manufactured between May 4, 2018, to October 27, 2020.
This price rise is the third such hike Maruti Suzuki has rolled out in 2021 – the carmaker earlier raised prices in January and April this year.