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

Maruti Suzuki's net sales rose 16.7 percent to Rs 17,132.4 crore for the quarter

PTI July 27, 2017 15:09:55 IST
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 AprJun quarter net profit grows 44 to Rs 15564 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.

Updated Date:

also read

Tata Nexon EV Max launched in India; priced from Rs 17.74 lakh
Auto

Tata Nexon EV Max launched in India; priced from Rs 17.74 lakh

The new Tata Nexon EV Max comes with 30+ features over the standard Nexon EV, and costs roughly Rs 2 lakh more.

GST Council may consider modification in monthly tax payment form for better input tax credit reporting
Business

GST Council may consider modification in monthly tax payment form for better input tax credit reporting

A meeting of the Goods and Services Tax (GST) Council, the highest decision making body in the GST matter, is likely to be held next month

How apex court gives ‘supreme’ relief to businesses by ending double taxation on ocean freight
Business

How apex court gives ‘supreme’ relief to businesses by ending double taxation on ocean freight

The SC judgement should act as a catalyst for the GST Council to review all legacy circulars and rules and remove all anomalies in law, making compliance simple and taxpayer-friendly, along with complying with the basic principle of law and canons of taxation