Shares of Maruti Suzuki India today rose over 4 per cent after the company reported 2.96 per cent increase in net profit for the third quarter ended December 31, 2017.
The stock gained 4.31 per cent to Rs 9,677.95 on BSE. On NSE, shares of the company went up 4.30 per cent to Rs 9,678. The carmaker on Thursday reported 2.96 per cent increase in net profit to Rs 1,799 crore for the third quarter ended December 31.
The company had posted a net profit of Rs 1,747.2 crore for the same period of the previous financial year. Total income during the quarter under review stood at Rs 19,528.1 crore, against Rs 19,793.3 crore in the year-ago period.
The company said its Board has discussed and approved a revision in the method of calculating royalty which would result in lower royalty payments for new model agreements, starting with Ignis.
This is published unedited from the PTI feed.