Maruti Sukuzi Q3 consolidated net profit rises 4% to Rs 1,587 crore

Topics Maruti Sukuzi

The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday reported 4.13 per cent rise in consolidated net profit at Rs 1,587.4 crore for December quarter 2019-20, riding on lower commodity prices, reduced corporate tax rate besides its cost reduction efforts.

The company had posted a net profit of Rs 1,524.5 crore in the same quarter last fiscal, MSI said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at Rs 20,721.8 crore as against Rs 19,680.7 crore in the year-ago period, up 5.29 per cent, it added.

The company sold a total of 4,37,361 vehicles during the quarter, up 2 per cent as compared to the same period previous year.

Sales in the domestic market stood at 4,13,698 units, a growth of 2 per cent from the year-ago period. Exports were at 23,663 units, it said.

In a statement, the company said it was able to register higher net profit during the third quarter on "account of cost reduction efforts, lower operating expenses, lower commodity prices and reduction in corporate tax rate".

This was, however, partially offset by higher sales promotion expenses, higher depreciation, and lower fair value gains on invested surplus, it added.

During April-December 2019, the company said its consolidated net profit stood at Rs 4,355.3 crore as compared to Rs 5,819.8 crore in the year-ago period, down 25.16 per cent.

Total revenue from operations during the nine-month period stood at Rs 57,452.3 crore as compared to Rs 64,594.5 crore, a decline of 11.06 per cent, it said.

MSI said it sold a total of 11,78,272 vehicles in April-December, down 16.1 per cent from the same period previous year.

Sales in the domestic market during the nine-month period stood at 11,00,698 units, lower by 16.9 per cent, it said, adding exports were at 77,574 units.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel