Maruti Suzuki Q3 profit zooms 18% to `802 cr

The country’s largest carmaker Maruti Suzuki India on Tuesday reported 17.8 per cent increase in net profit at Rs 802.2 crore for the third quarter ended December 31, 2014. The company had posted a net profit of Rs 681.15 crore 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, up 15.5 per cent as against Rs 10,619.68 crore 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.