Maruti Suzuki Q3 net vaults over 140 % to Rs501 crore

Maruti Suzuki India Ltd, the country's largest carmaker, has reported a near of 143.8 per cent per cent jump in fiscal third quarter net profit at Rs501.29 crore against Rs205.62 crore in the corresponding quarter of the previous financial year.

Net sales during the quarter ended 31 December 2012 was up 45.57 per cent at Rs10,956.95 crore, against Rs7,527.10 crore in the year-ago period, Maruti Suzuki India said in a release.

Sales volume during the October-December 2012-13 quarter stood at 3,01,453 units against 2,39,528 units sold in the corresponding quarter of the previous year.

The company attributed the growth in net profit primarily to higher sales and good response to new models like Ertiga and Swift DZire. Maruti Suzuki said continued cost reduction efforts also helped to drive profit in the quarter.

During the quarter, the company sold 268,957 units in the domestic market, compared to 211,803 units in the previous year quarter, reflecting a growth of 27 per cent. The company exported 32,496 units during the quarter, up 17.2 per cent.

During the nine-month period (April-December) of the 2012-13 financial year, Maruti Suzuki's net sales (net of excise) stood at Rs29,556.3 crore, an increase of 27.3 per cent over same period in the previous year.

Net profit during nine months (2012-13) stood at Rs1,152.5 crore, a growth of 15.8 per cent.

During the nine-month period, the company sold 742,175 units in the domestic market, reflecting a growth of 8.4 per cent. Exports during April-December 2012 stood at 85,550 units against 88,469 units sold in April-December 2011.