Maruti Suzuki Q3 net profit up 26% at INR 1,996.7 crore, Auto News, ET Auto
NNew Delhi: Maruti Suzuki India (MSI) on Thursday reported 25.seven% bounce in its consolidated net profit to INR 1,996.seven crore for the quarter to December 31, 2020.
The business had posted a net profit of INR 1,587.4 crore throughout the identical period very last fiscal.
Meanwhile, consolidated income from operations of the business rose thirteen.36% to INR 23,471.3 crore in Q3 FY21 as compared to INR twenty,721.8 crore throughout the identical period a 12 months ago, MSI mentioned in regulatory filing.
On a standalone foundation, the carmaker registered net product sales of INR 22,236.seven crore, an maximize of thirteen.two% compared to the identical period in the former 12 months.
The running profit of MSI for the quarter was at INR 1,484.8 crore, a development of 19.3% above the identical period in the former 12 months on account of greater product sales quantity and value reduction endeavours, which had been partly offset by maximize in commodity rates and adverse international trade motion.
Net profit for the quarter was INR 1,941.4 crore greater by 24.1% above the identical period in the former 12 months owing to the previously mentioned elements and greater non-running income.
“These success have to be considered in the context that in the former 12 months (FY twenty), product sales quantity declined by 16% for the business and about 18% for the marketplace,” MSI mentioned.
Through the quarter underneath evaluation the New Delhi-primarily based carmaker offered 495,897 automobiles, thirteen.4% greater than in the identical period very last 12 months. Sales in the domestic market had been at 467,369 models, up thirteen%, the business mentioned. Exports had been at 28,528 models in Q3 FY21, an maximize of twenty.6%.