Maruti Suzuki posted a 42.1 per cent jump in net profit at Rs 1,225.56 crore for the second quarter ended September 30, as it gained on more units of cars, reduced costs, and a favourable foreign exchange. The company had posted net profit of Rs 862.54 crore in the corresponding quarter a year ago.
The automaker sold 3,53,335 numbers of vehicles for the quarter ended September 30, 2015. The company sold 3,21,898 units in the same quarter last year.
Net sales of the company increased by 13.15 per cent year-on-year to Rs 13,574.81 crore in the quarter under review.
In a release, the company said, “Higher volume, material cost reduction initiatives and favourable foreign exchange contributed significantly to bottomline growth during the quarter.”
Share price of Maruti Suzuki jumped 1.87 per cent at Rs 4469.90 at 2.36 pm.