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Robust sales drive Maruti Suzuki Q2 net up 42% to Rs 1,226 crore

Country's top carmaker Maruti Suzuki India (MSI) on Tuesday reported a 42.1 per cent jump in net profit at Rs 1,225.56 crore for the September quarter, driven by strong sales growth, lower material cost and favourable foreign exchange.

The company had posted a net profit of Rs 862.54 crore during the same period last fiscal. Net sales of the company rose 13.2 per cent to Rs 13,574.8 crore during the second quarter as against Rs 11,996.33 crore during the same period year ago, Maruti Suzuki India (MSI) said in a statement.

Commenting on the results, MSI Chairman R C Bhargava said the company's performance was in line with what people were expecting.

"The reasons for high profit were higher volumes, favourable foreign exchange, commodity prices and benefits from cost reduction exercises," he said. Going forward, festive season retail sales will be good in this and the next month, he added. "Generally, December sales are different but there have been a lot of purchases in the last couple of years, he said.
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