Maruti Suzuki Profit Soars 47% in Q1: Rs 3,650 Cr
Jul 31, 2024 15:55
Maruti Suzuki India reported a 47% jump in its net profit to Rs 3,650 crore for the April-June quarter, driven by cost reduction, favorable commodity prices, and foreign exchange gains.
Photograph: Anindito Mukherjee/Reuters
New Delhi, Jul 31 (PTI) Maruti Suzuki India on Wednesday reported a 47 per cent jump in its net profit to Rs 3,650 crore for the April-June quarter on account of cost reduction efforts, favourable commodity prices and foreign exchange gains.
The auto major had posted a net profit of Rs 2,485 crore in the April-June quarter of last fiscal.
Net sales increased to Rs 33,875 crore in the June quarter as compared with Rs 30,845 crore in the year-ago period, according to an exchange filing.
The country's largest carmaker said it sold 5,21,868 vehicles during the first quarter, up 5 per cent as compared to the same period previous fiscal.
The company said it sold 4,51,308 units in the domestic market in the first quarter, an increase of 4 per cent over the same period last fiscal.
Export sales were at 70,560 units in the April-June quarter, a growth of 12 per cent over the first quarter of last fiscal.
Shares of the company ended 2.28 per cent up at Rs 13,167.95 apiece on the BSE.
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