Country’s largest car maker, Maruti Suzuki, on Tuesday posted a 56 per cent increase in net profit for the first quarter of 2015-16 on account of higher sales, reduces costs and favourable foreign exchange rates.
The company’s net profit stood at Rs.1,192.9 crore in April-June quarter of 2015, up from Rs.762.28 crore in the same quarter last financial year.
Net sales during the period were Rs.13,078.32 crore against Rs.11,073.51 crore, up 18.1 per cent, the company said in a statement.
Maruti Suzuki sold a total of 3.41 lakh vehicles during the quarter under review, a growth of 13.8 per cent over the same period previous year. While sales in the domestic market grew 13 per cent to 3.06 lakh units, exports were up 21.8 per cent to 35,635 units.
“During the quarter, higher volumes, cost reduction efforts, lower sales promotion expenses, and favourable foreign exchange helped improve the performance,” the company said.
The company’s scrip closed at Rs 4,189 on the BSE, 0.30 per cent higher from its previous close.
| » | Net sales during the period under review stood at Rs 13,078.32 crore as against Rs 11,073.51 crore, up 18.1 per cent. |
| » | Total unit sales during the quarter stood at 3,41,329 units as against 2,99,894 units in the year-ago period, up 13.81 per cent. |
| » | Domestic sales during the first quarter were at 3,05,694 units as against 2,70,643 units in the same period last fiscal, up 12.95 per cent. |
| » | The company said exports were at 35,635 units during the quarter as against 29,251 units year-ago, up 21.82 per cent. |
