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MC
26Th July 2016
Passenger car maker Maruti Suzuki on Tuesday
reported a rise of 23 per cent in its net profit for the first quarter (Q1) of
2016-17. The Total Investment &
Insurance Solutions
The company's net profit stood at Rs 1,486.2
crore for the quarter ended June 30, 2016 - up from Rs 1,208.1 crore in the
corresponding period of 2015-16.
"The profit in the quarter was helped by
a higher turnover, material cost reduction, higher non-operating income and
lower depreciation," the automobile manufacturer said in a statement.The Total Investment & Insurance Solutions
"Adverse foreign exchange movement
reduced profits to some extent."
The passenger car major's net sales during
the quarter under review stood at Rs 14,654.5 crore -- up 12.1 percent from Rs
13,078.3 crore for the quarter ended June 30, 2015. The Total Investment & Insurance Solutions
Maruti Suzuki sold 348,443 vehicles during
the quarter under review, logging a growth of 2.1 per cent over the similar
period of the previous fiscal.
The company's sales in the domestic market
grew by 5.4 per cent to 322,340 units. However, exports during the quarter
plunged by 26.7 per cent to 26,103 units.
The Total Investment & Insurance Solutions
"The growth in the first two months of
the quarter had been 10.2 per cent but the unfortunate incident of fire at a
key vendor of the company resulted in lower sales in June 2016," the
statement said.
"The company hopes to recover the lost
sales during the course of the year."
The Total Investment & Insurance Solutions
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