Maruti Suzuki profit jumps 47% in Q1

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 521,868 vehicles during the first quarter, up 5 per cent as compared to the same period previous fiscal.

The company said it sold 451,308 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.