Maruti Suzuki Jul-Sep net jumps 60% to Rs 2,398 crore

Maruti Suzuki posted a net profit of Rs 2,398 crore in the quarter-ended September 2016, up 61.4% from the Rs 1,486 crore posted in the preceding quarter. 

Compared to the net profit in the same period last year (Rs 1,497 crore), the July-September net profit was up 60.2%.

The carmaker sold 418,470 vehicles in the quarter, up 18.4% from the same period last year, it said in a notification to the BSE. 

In the domestic market, it sold 383.030 units, up 18.5%, while exports were up 17.9% at 35,440 units. 

Maruti Suzuki registered net sales of Rs 17,594.6 crore, up 29.5% from the same period last year. Total income of the carmaker rose 29.28% to Rs 20,296.8 crore compared to the Rs 15,699.7 crore posted in the same period last year. 

The carmaker said "higher volumes leading to higher capacity utilisation, lower expenses on sales promotion and marketing, and higher non-operating income contributed to the increase in profits."

The carmaker said that, however,  this was partially offset by adverse foreign exchange movement. 

At 1341 hours, the company's shares were trading at Rs 5,917.90, up Rs 45.95 or 0.78 from previous day's close. 

The shares were down from the intraday high of Rs 5950.20 apiece.