Driving on higher sales, led by newer models and lower commodity prices, Maruti Suzuki India on Thursday posted 25.3% increase in its net profit at Rs 583.5 crore for the first quarter ended June 30, 2009, as against Rs 465.9 crore recorded in the corresponding period of the last fiscal.

Net sales during April-June quarter went up 34% at Rs 6,340 crore as compared to Rs 4,731 crore in the corresponding period last fiscal. The company’s shares shot to a 52-week high at Rs 1305.55 in the intra-day trade to finally close at Rs 1,295.55, up 6.44%, on the BSE.

While commodity prices had started softening at the beginning of the year, its impact on margins could be realised only in the first quarter of this financial year and not in the last quarter of 2008-09 due to the lag effect. Consequently, the company had posted 18.3% dip in its net profit during the January-March quarter of the last financial year at Rs 243.1 crore vis-?-vis 297.7 crore in the corresponding quarter of 2007-08.

The company?s total sales during the first quarter of the current financial year went up 17.7% at 2,26,729 units as against 1,92,584 units in the first quarter of 2008-09. While domestic sales grew 9.6% at 1,97,415 units vis-?-vis 1,80,093 units, its exports jumped by a robust 134.7% at 29,314 units as against 12,491 units in the April-June quarter of 2008-09.

?The positive response to new models and continued focus on tapping new market segments enabled Maruti to achieve a near double-digit volume growth and enhance its market share. In exports, the positive response to the A-star, combined with scrappage incentives offered by governments in Europe, led to sharp growth while the growing share of higher-end models in total company sales also contributed to the growth in net sales during the quarter,? the company said in a statement.

?In addition to these factors, increase in net profit was further helped by easing of commodity prices, sales mix moving in favour of higher-end models and favourable foreign exchange realisations, over and above the company?s continued focus on Kaizen and cost reduction efforts,? it added.

The company launched Ritz in the first quarter and increased its sales networkby 3.1% at 702 outlets spread over 478 cities.