Maruti Suzuki's Q4 net profit up 16%

Automobile major Maruti Suzuki on Thursday reported a rise of 15.8 per cent in its net profit for the fourth quarter of 2016-17.

According to the company, its net profit for the quarter under review increased to Rs 1,709 crore from Rs 1,476 crore reported for the corresponding period of 2015-16.

The company's net sales stood at Rs 18,005.2 crore - a growth of 20.3 percent over the same period of 2015-16.

"Growth in volumes, increase in share of the company's higher segment models, benefits due to full capacity utilisation and cost reduction efforts contributed to increasing in profits," the automobile major said in a statement.

"This was partially offset by an increase in commodity prices and adverse forex movement."