Maruti Suzuki’s net sales up 15 percent in Q3

Maruti Suzuki India has approved the financial results for the quarter ended December 2014. According to a press statement, the company sold 323,911 vehicles in Q3, a growth of 12.4 percent. Of this, exports were at 28,709 units, recording a growth of 43.8 percent.

In terms of sales, Maruti recorded net sales (net of excise) of Rs 122.63 crore, a growth of 15.5 percent over the same period in the previous year. Net profit in Q3 of 2014-15 stood at Rs 80.22 crore, up 17.8 percent compared to the same period last year. Higher volumes, material cost reduction initiatives and favorable foreign exchange contributed to bottom-line in Q3.

For the nine-month period ended December 2014, Maruti sold a total of 945,703 vehicles in April-December 2014, a growth of 13.9 percent. Of this, exports were at 92,171 units, a growth of 22.8 percent.

Maruti registered net sales (net of excise) of Rs 353.33 crore, a growth of 14.6 percent over the same period last year. Net profit stood at Rs 242.70 crore, up 22.4 percent.

The carmaker recorded its highest-ever annual sales in 2014 with sales of 11.48 lakh vehicles sold, 13 percent higher than calendar year sales in 2013. In the year, the company launched the Celerio hatchback with an AMT variant as well as the upper C segment Ciaz sedan that has got off to a good start. Maruti is offering the AMT on its K10 Alto model. In 2015, Maruti will foray into the first light commercial vehicle segment with its own LCV aimed at taking on the Tata Ace.