Maruti Suzuki Q3 net jumps 48%
Maruti said, "Increase in share of the company's higher segment models, lower sales promotion and marketing expense, cost reduction efforts and higher non-operating income contributed to increase in profits."
Maruti Suzuki Q3: Can new launches do the trick? Maruti Suzuki reported 48% year-on-year rise in net profit for its third quarter ended December 31, 2016.
Net profit stood at Rs 1744.5 crore, as against Rs 1,183 crore in the corresponding period of the previous year.
Operating Profit (EBITDA) stood at Rs 2489 crore, witnessing growth of 16% compared to Q3FY16.
Net sales in Q3 was at Rs 16,623.6 crore, registering a growth of 12.4% a year ago same period.
In the October-December period, Maruti sold a total of 3,87,251 vehicles, up by 3.5% yoy. Exports stood at 30,748 units.
Here's how domestic sales have performed category-wise in this Q3 compares to similar quarter of previous year.
Domestic sales stood at 3,56,503 units in Q3, rising by 4% from 3,42,995 units of Q3FY16.
Maruti said, "Increase in share of the company's higher segment models, lower sales promotion and marketing expense, cost reduction efforts and higher non-operating income contributed to increase in profits."
It added, "This was partially offset by the increase in commodity prices and adverse foreign exchange movement during the quarter.
At 1.05 pm, shares of Maruti Suzuki was trading at Rs 5751 per share on BSE, up by 0.2%. However, minutes after the Q3 announcement it dropped to Rs 5735-level.
