Robust sales drive Maruti Q3 net profit up 27% at Rs 1,019 crore

New Delhi: Country’s largest carmaker Maruti Suzuki India today reported a 27.1 per cent jump in net profit at Rs 1,019.3 crore for the third quarter ended December 2015, driven by robust sales, cost reduction initiatives and favourable foreign exchange. The company had posted a net profit of Rs 802.2 crore during the same period last fiscal. [caption id=“attachment_2550358” align=“alignleft” width=“380”]  Reuters[/caption] “Higher volumes, material cost reduction initiatives and favorable foreign exchange contributed to profit during the quarter,” Maruti Suzuki India (MSI) said in a statement. Net sales of the company rose 20.4 per cent to Rs 14,767.7 crore during the third quarter as against Rs 12,263.1 crore during the same period a year ago, Maruti Suzuki India (MSI) said in a statement. During the third quarter, the company sold a total of 3,74,182 vehicles, a growth of 15.5 per cent, over 3,23,911 units sold in the third quarter of 2014-15. For the nine months ended December 31, the company posted a net profit of Rs 3,437.8 crore, up 41.6 per cent, from the same period of previous fiscal. Net sales of the company rose 17.2 per cent to Rs 41,420.9 crore for the nine months ended December 31, over the same period last year. The company sold a total of 10,68,846 vehicles in April-December 2015, a growth of 13 per cent over the same period of previous fiscal. Maruti shares today ended 0.37 per cent down at Rs 4,093.55 apiece on BSE. PTI