The country’s largest carmaker Maruti Suzuki has reported net revenue of Rs 19,283 crore for Q3 FY2017-2018, an increase of 0.45 percent YoY. The company sold a total of 431,112 vehicles (domestic - 400,586 and exports - 30,526) during the period, a growth of 11.3 percent YoY.
During Q3 the registered net-sales was Rs 18,940 crore an increase of 13.9 percent over the same period previous year. The company registered an operating profit of Rs 2,348 crore, an increase of 26.7 percent YoY.
The company says the result can be attributed on account of higher sales volume, cost reduction efforts, lower sales promotion expenses and forex benefit, which was partially offset by adverse commodity prices. The net profit stood at Rs 1,799 core an increase of 3 percent YoY (Q3FY17: 1,747 crore).
The carmaker states while the operating profit increased by 26.7 percent, the net profit increased by 3 percent due to increase in effective tax rates and lower non-operating income due to mark-to-market impact on the invested surplus, compared to last year.