Maruti Suzuki Q2 profit rises 3% to Rs 2,484 crore, beats estimates
Net sales rose 21.8% to Rs 21,438.1 crore for the quarter under review, as against Rs 20,048.6 crore a year ago.business Updated: Oct 27, 2017 16:20 IST
Country’s largest carmaker Maruti Suzuki India on Friday posted 3.4% rise in net profit at Rs 2,484.3 crore for the second quarter ended September 30.
The company had reported a net profit of Rs 2,401.5 crore for the same period of previous fiscal.
Net sales rose 21.8% to Rs 21,438.1 crore for the quarter under review, as against Rs 20,048.6 crore a year ago, Maruti Suzuki India (MSI) said in a statement.
The company said its net profit increased by only 3.4% due to lower non operating income as the yields of investment were lower compared to last year.
Moreover, there was some impact of commodities and advertisement expenses along with increase in effective tax rates, it added.
During July-September period, the company sold a total of 4,92,118 vehicles, including 34,717 in overseas markets, a growth of 17.6% over the same period a year ago.
The company’s stock was trading at Rs 8,171.45 per scrip, up 1.18% on BSE.