Maruti Suzuki Q3 profit rises 48% on sales of pricier cars

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New Delhi: Maruti Suzuki India Ltd posted a 47.5% rise in third-quarter profit, the country’s top-selling car maker said on Wednesday, helped by strong sales of its new, pricier cars and sport-utility vehicles.

Net profit for the three months ended 31 December, rose to Rs1,745 crore ($256 million) compared with Rs1,183 crore in the year-ago quarter, the company said in a statement. The year-ago net profit has been adjusted to reflect the new accounting rules adopted by India.

Analysts expected it to post a profit of Rs1,747 crore, according to Thomson Reuters data.

Total income from operations of the car maker, which is majority owned by Japan’s Suzuki Motor Corp, rose 13% to Rs19,170 crore. The company sold a total of 387,251 vehicles during the quarter, up 3.5% from the year ago period.