Country’s largest carmaker Maruti Suzuki India today posted 3.4 percent rise in net profit at Rs 2,484.3 crore for the second quarter ended September 30. The company had reported a net profit of Rs 2,401.5 crore for the same period of previous fiscal. Also Read - FIR filed against Twitter India again, now over child pornography content
Net sales rose 21.8 percent to Rs 21,438.1 crore for the quarter under review, as against Rs 20,048.6 crore a year ago, Maruti Suzuki India (MSI) said in a statement. The company said its net profit increased by only 3.4 percent due to lower non operating income as the yields of investment were lower compared to last year. Also Read - Ola to offer free oxygen concentrators to the needy
Moreover, there was some impact of commodities and advertisement expenses along with an increase in effective tax rates, it added. During July-September period, the company sold a total of 4,92,118 vehicles, including 34,717 in overseas markets, a growth of 17.6 percent over the same period a year ago.
The company’s stock was trading at Rs 8,171.45 per scrip, up 1.18 percent on BSE.