Maruti Suzuki Q1 net profit jumps 56.49% to Rs1,193 cr

Maruti Suzuki India (MSIL), the country's largest passenger car maker has reported a net profit at Rs1,193 crore for the first quarter of the current financial year (April-June 2015-16), a 56 per cent jump from the net profit for the comparable quarter of the previous year.

Net sales for the quarter were up 18 per cent at Rs13,078 crore compared to corresponding period in 2014-15, the company said in a statement.

Maruti Suzuki's performance during the April-June 2015-16 quarter was boosted by higher demand for cars, cost-reduction measures, low expense on sales promotion and a weaker yen that made imports of car parts cheaper.

The company sold a total of 3,41,329 vehicles during the quarter, a growth of 13.8 per cent over the same period of the previous year.

Sales in the domestic market stood at 3,05,694 units, a growth of 13 per cent, it said.

Exports were at 35,635 units, up 21.8 per cent.

Maruti shares were trading marginally higher by 0.16 per cent or Rs6.70 at Rs4,183.05 on the BSE at about 1.40 pm.