Maruti Suzuki's net profit soars 47% to ₹3,650 crore in Q1, SUV sales up 29%

Maruti Suzuki India on Wednesday reported a 47 per cent jump in its net profit to ₹3,650 crore for the April-June quarter on account of cost reduction efforts, favourable commodity prices and foreign exchange gains.

The auto major had posted a net profit of ₹2,485 crore in the April-June quarter of last fiscal. Net sales increased to ₹33,875 crore in the June quarter as compared with ₹30,845 crore in the year-ago period, according to an exchange filing.

The country's largest carmaker said it sold 5,21,868 vehicles during the first quarter, up 5 per cent as compared to the same period previous fiscal. The company said it sold 4,51,308 units in the domestic market in the first quarter, an increase of 4 per cent over the same period last fiscal.

Export sales were at 70,560 units in the April-June quarter, a growth of 12 per cent over the first quarter of last fiscal. Shares of the company ended 2.28 per cent up at ₹13,167.95 apiece on the BSE.

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