Maruti Q3 net up 3% as lower non-operating income subdues profitability


Country's largest vehicle maker Maruti Suzuki is expected to report strong performance for quarter ended December 2017, driven by double digit volume and better response to new launches. The company sold a total of 431,112 vehicles (domestic - 400,586 and exports - 30,526) during the period, a growth of 11.3 percent YoY.

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"While the operating profit increased by 27%, the net profit increased by 3% due to increase in effective tax rates and lower non-operating income due to mark-to-market impact on the invested surplus, compared to a year ago", Maruti said.

The countrys largest carmaker Maruti Suzuki India today reported 2.96 per cent increase in net profit at Rs 1,799 crore for the third quarter ended December 31. Sales volume in the nine months grew by 14% at 13.2 lakh units while revenue was higher by 18% at Rs 57,510 crore.

Maruti Suzuki Swift has been the most popular auto in the country for more than a decade and there is no doubt that the third generation model will be selling like hot cakes too. The mid-size segment took a hit with 32.3 per cent decline in sales on yearly basis in the December quarter.

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In the Auto Expo 2018, Maruti plans to make a powerful statement with the concept of cleaner technology and future compact vehicle design.

The e-SURVIVOR symbolizes Maruti Suzuki's commitment to helping develop the entire life cycle of EVs in India, including the local manufacture of components, charging infrastructure and recycling of batteries, it added. The week-long extravaganza at the India Expo Mart in Greater Noida, Delhi - NCR, India, will see Suzuki Motorcycle India showcase 17 models, both in scooters as well as the motorcycle category.

The new method would result in lower royalty payments for new model agreements starting the Ignis, it said.

A subsidiary of two-wheeler manufacturer, Suzuki Motor Corporation, Japan, the Suzuki pavilion will be located in Hall No. 2 at the Auto Expo.

Shares of MARUTI SUZUKI INDIA LTD. was last trading in BSE at Rs.9397 as compared to the previous close of Rs. 9306.65.