Maruti Suzuki India Q2 profit up 3.4% at Rs 2,484 crore

New Delhi: Maruti Suzuki India Ltd, the country`s top-selling car maker, posted more than a 3 percent rise in its quarterly profit.

The Company sold a total of 492,118 vehicles during the July-September 2017-18 quarter, a growth of 17.6 percent over the same period of the previous year. Sales in the domestic market stood at 457,401 units, a growth of 19.4 percent. Exports were at 34,717 units.

During the quarter, the company registered Net Sales of Rs. 214,381 million, up 21.8 percent over the same period previous year.

Net Profit was Rs 24,843 million, a growth of 3.4 percent over the same period previous year.

The operating profit increased by 24 percent while the net profit increased by 3.4 percent due to lower non-operating income as the yields on investments were lower compared to last year, and some impact of commodities and advertisement expenses, and increase in effective tax rates.

The Company sold a total of 886,689 vehicles in H1 a growth of 15.6 percent. Sales in the domestic market stood at 825,832 units a growth of 17.1 percent. Exports were at 60,857 units.

The Company’s net sales stood at Rs 385,705 million in April-September 2017-18, a growth of 19.5 percent over the same period last year.

Net profit stood at Rs 40,407 million, up 3.8 percent.

The operating profit increased by 16 percent while the net profit increased by 3.8 percent due to lower non-operating income as the yields on investments were lower compared to last year, and some impact of commodities and advertisement expenses, and increase in effective tax rates.