NEW DELHI: Maruti Suzuki on Wednesday posted a 47.46 per cent year-on-year rise in net profit for the third quarter ended December 31, 2016. Shares of the auto major were trading 0.50 per cent higher at Rs 5,768 around 2.20 pm (IST).
Here are the top five takeaways from December quarter earnings:
Net profit: The automaker posted 47.46 per cent jump in net profit at Rs 1,744.50 crore for the quarter against Rs 1,183 crore posted for the corresponding quarter last year. Analysts in an ETNow poll had earlier predicted a net profit of Rs 1,920 crore for the quarter under review.
Revenue: Gross sales of the auto major jumped 13.16 per cent to Rs 18,931.90 crore for the December quarter. It had reported revenue of Rs 16,728.80 crore for the same quarter a year ago.
Total expenditure: During the October-December quarter, total expenditure of Maruti Suzuki climbed 11.48 per cent to Rs 1,7319 crore against Rs 15,534.50 crore posted for the same period last year.
No of units sold: Unit volume sales during the period stood at 387,251 units, up 3.5 per cent over same period a year ago. Of this, exports stood at 30,748 units, it said.
From the company: Maruti Suzuki in a release said, “An increase in share of the company’s high-end models, lower sales promotion and marketing expense, cost reduction efforts and higher non-operating income contributed to increase in profits. This was partially offset by an increase in commodity prices and adverse foreign exchange movement during the quarter.”