Higher volumes and lower material costs boost Maruti Suzuki profit 42% in Q2 FY2016

Maruti Suzuki India, which had the global launch of the new Baleno hatchback yesterday, is driving new gains on the back of higher volumes, material cost reduction initiatives and favourable foreign exchange which have contributed significantly to bottomline growth during the quarter. Earlier today, the Board of directors of Maruti Suzuki India approved the financial results for the period July-September 2015-16 (Q2) and April-September 2015-16 (H1).

The company sold a total of 353,335 vehicles in Q2, a YoY growth of 9.8 percent. Of this, exports were at 30,066 units. Net sales were Rs 135,748 million, a growth of 13.2 percent over the same period of the previous year. Net profit in Q2 stood at Rs 12,256 million, up 42.1 percent compared to the same period last year.

In H1, Maruti Suzuki sold a total of 694,664 vehicles, a growth of 11.7 percent. Of this, exports were at 65,701 units. Net sales were Rs 266,531 million in April-September 2015-16, a growth of 15.5 percent over the same period last year. Net profit stood at Rs 24,185 million, up 48.8 per cent.

A detailed financial report of Maruti Suzuki's Q2 (2015-16) results can be found here: Click to view