Maruti Suzuki Posts Q1 Profit Of Rs 1,486 Crore
Maruti Suzuki India Ltd , the country’s top-selling car
maker, posted on July 26 a forecast-beating 23 per cent rise in first-quarter
net profit, as higher sales offset the adverse impact of an unfavourable
foreign exchange rate.
Maruti Suzuki today announced the financial results for the
first quarter (April-June) of the 2016-17 financial year, which saw the company
sell 3,48,443 units during the quarter. The company registered a year-on-year growth
rate of 2.1 per cent during the said period with domestic sales including
3,22,340 units, a growth of 5.4 per cent, while exports stood at 26,103 units.
The company's net profit for the period was 14,862 million, a year on year
growth of 23 per cent.
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| SUZUKI IGNIS |
“The profit in the quarter was helped by a higher turnover,
material cost reduction, higher non-operating income and lower depreciation,”
the company said in an emailed statement.
With the festive season all set to commence in the following
weeks, Maruti Suzuki is certainly going to be all geared up to introduce new
models and special/limited edition versions of its existing cars to grab the
attention of your average Indian buyer. The company's launches for the
remainder of the year include the more powerful 1.0-litre Boosterjet equipped
Baleno RS that will be the automaker's answer to the hot hatchbacks out there,
while the Ignis crossover is also on the cards and will be the next product to
be sold via the NEXA dealership network. Speculations also suggest that Maruti
Suzuki will finally make its foray into the light commercial vehicle segment
towards the end of this year with the Super Carry.
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