Maruti Suzuki consolidated Q3 profit up 4% at Rs 1587.4 crore

Company’s revenue from operations also rose to Rs 20721.8 crore during Q3 FY’19 as compared to Rs 196,807 in the corresponding period a year ago. New Delhi: India’s largest carmaker reported 4.1 per cent growth in its consolidated profit at Rs 1587.4 crore for the quarter ended December 31, 2019 majorly due to cost reduction efforts, lower operating expenses, lower commodity prices and reduction in corporate tax rate, partially offset by higher sales promotion expenses, higher depreciation, and lower fair value gains on invested surplus.The company had posted a consolidated profit of Rs 1524.5 crore in the same quarter last year.Company’s revenue from operations also rose to Rs 20721.8 crore during Q3 FY’19 as compared to Rs 196,807 in the corresponding period a year ago.During the quarter under review, the company sold a total of 437,361 vehicles, up by 2 per cent compared to the same period previous year. Sales in the domestic market stood at 413,698 units in Q3FY’19, higher by 2 per cent. Exports were at 23,663 units.During the under consideration, the carmaker registered net sales of Rs. 196,491 million, higher by 3.8 per cent compared to the same period previous year.In the period between April-December 2019 Maruti sold a total of 1,178,272 vehicles during the period, down by 16.1 per cent compared to the same period previous year. Sales in the domestic market stood at 1,100,698 units, lower by 16.9 per cent. Exports were at 77,574 units.During the period, the company registered Net Sales of Rs. 545,04.7 crore, lower by 12.5 per cent compared to the same period previous year.Net profit for the period stood at Rs 43,58.9, lower by 23.6 per cent compared to the same period previous year on account of lower sales volume, higher sales promotion expenses and higher depreciation, partially offset by cost reduction efforts, higher fair value gains on invested surplus and reduction in corporate tax rate.Follow and connect with us on Twitter, Facebook, Linkedin, Youtube

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