Friday, 27 January 2017

Maruti’s Standalone Net Profit Jumps 47.46% For Q3FY17

As Maruti reports a lofty rise in the results for the quarter ended 31st December 2016, today, the shares of the company started the trading session today by rising above 1 per cent. On Wednesday, 27th January 2017, Maruti Suzuki India (MSI) reported a 47.46 per cent jump in standalone net profit at Rs 1,744.5 crores for the December quarter, riding on the increased share in higher segment models, lower sales as well as promotion expenses, and cost reduction exercise.

Unit volume sales during the period stood at 3,87,251 units, up 3.5 per cent, over the same period of the previous year. Of this, exports stood at 30,748 units, it said. Commenting on the results, MSI said that the increase in share of the company's higher segment models, lower sales promotion and marketing expense, cost reduction efforts and the higher non-operating income contributed to increase in the profits of the company.

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