Maruti Suzuki's Apr-Jun quarter net profit grows 4.4% to Rs 1,556.4 cr

New Delhi: India's largest carmaker Maruti Suzuki India (MSI) on Thursday posted a 4.4 percent increase in its net profit at Rs 1,556.4 crore for the first quarter to June on the back of robust sales and cost reduction efforts.

The company had reported a net profit of Rs 1,490.9 crore for the same period of the previous fiscal.

 Maruti Suzukis Apr-Jun quarter net profit grows 4.4% to Rs 1,556.4 cr

Representational image. Reuters

Net sales rose 16.7 percent to Rs 17,132.4 crore for the quarter under review as against Rs 14,654.5 crore a year earlier.

"Growth in volumes, favourable product mix, higher non-operating income and cost reduction efforts contributed to increase in profits," MSI said in a statement.

However, costs were impacted by higher commodity prices, sales promotion and marketing expenses, it added.

Additionally, during the quarter, there was a one-off impact of compensation for dealers due to the tax loss incurred on vehicle stock at the time of switchover to GST.

During April-June, the company sold a total of 3,94,571 vehicles, including 26,140 in overseas markets, a growth of 13.2 percent, over same period of the previous year.

The stock was trading 0.22 percent up at Rs 7,594.95 on the BSE.

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Updated Date: Jul 27, 2017 15:09:55 IST