Maruti Suzuki Q3 net rises 18% to Rs 802 crore

The country's largest carmaker Maruti Suzuki India on Tuesday reported 17.8 per cent increase in net profit at Rs 802.2 crore (Rs 8.02 billion) for the third quarter ended December 31, 2014.

The company had posted a net profit of Rs 681.15 crore (Rs 6.81 billion) in the same period last fiscal, Maruti Suzuki India said in a statement.

"Higher volumes, material cost reduction initiatives and favourable foreign exchange contributed to the bottomline during the quarter," the company said in a statement.

Net sales during the quarter stood at Rs 12,263.14 crore (Rs 122.63 billion), up 15.5 per cent as against Rs 10,619.68 crore (Rs 106.19 billion) in the same period previous fiscal.

Volume sales in the quarter were up 12.4 per cent at 3,23,911 units as compared to 2,88,151 units in the same period last fiscal, it added.

Domestic sales were at 2,95,202 units as against 2,68,185 units in the same period last fiscal while exports stood at 28,709 units as compared to 19,966 units in the year-ago period.

Shares of Maruti Suzuki India were trading 0.39 per cent down at Rs 3,594.40 per scrip during afternoon session on the Bombay Stock Exchange.