Spurred by a healthy growth in sales, Maruti Suzuki India Ltd reported a better than expected 25.26 per cent jump in net profit for April-June period at Rs 583.54 crore over Rs 465.85 crore a year ago.
The shares of the company touched an all time high of Rs 1305.50 per share before closing at Rs 1295.55 for a 6.44 per cent gain.
The company sold over 17,000 more cars during the last three months in the domestic market for a growth of 9.6 per cent while exporting almost the same number of extra cars for a 135 per cent growth. This reflected on its earnings from net sales which grew by 34 per cent at Rs 6,340.26 crore against Rs 4,731.03 crore last year.
“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 company said in a release. “Further net profit growth was helped by easing of commodity prices, sales mix moving in favour of higher end models and favourable foreign exchange realisations.”