Maruti Suzuki’s Q1 standalone net profit up 27%

Maruti Suzuki’s Q1 standalone net profit up 27%
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New Delhi: Automobile major Maruti Suzuki India on Thursday reported a rise of 26.9 per cent in its standalone net profit for the first quarter of 2018-19.

According to Maruti Suzuki, the net profit during the quarter under review rose to
Rs 1,975.3 crore from Rs 1,556.4 crore during the corresponding period of previous fiscal.

“While the operating profit increased by 59.7 per cent, the net profit increased by 26.9 per cent on account of lower non-operating income due to mark-to-market impact on the invested surplus, compared to last year,” the company said in a statement.

Besides, the automobile major’s Q1 net sales were up 27.3 per cent to Rs 21,810.7 crore from Rs 20,594.3 crore earned during the like period of previous year.

The company sold a total of 490,479 vehicles during the quarter, a growth of 24.3 per cent over the same period of the previous year.

“Sales in the domestic market stood at 463,840 units, a growth of 25.9 per cent. Exports were at 26,639 units,” the statement said.

IANS