Automobile major Maruti Suzuki on Thursday reported a 25.3 per cent increase in net profits to Rs 583.5 crore for the quarter ended June 30 compared to Rs 465.9 crore it earned in the corresponding period the previous fiscal.
Net sales grew 34 per cent to Rs.6,340 crore in the quarter under review compared to the year-ago period.
"Net profit growth was helped by an easing of commodity prices, sales mix moving in favour of higher end models and favourable foreign exchange realisations," the company said in a statement.
"Further, the growing share of higher end models in total company sales also contributed to the growth in Net Sales during the quarter," it said.
The car maker posted total sales of 226,729 units, an increase of 17.7 per cent for the quarter. This included exports of a record 29,314 units, representing a 134.7 per cent growth over the same period of the last fiscal.
"The positive response to new models and continued focus on tapping new market segments enabled the company to achieve near double digit volume growth and enhanced market share," the statement added.