Maruti Suzuki profit doubles to Rs.501 crore
Maruti Suzuki, India's largest passenger car maker, Friday said its net profit in the third quarter of the current financial year more than doubled to Rs.501.29 crore year-on-year, helped by strong demands for diesel-run cars.
The company posted a net profit of Rs.501.29 crore for the quarter ended Dec 31, 2012, as compared to Rs.205.62 crore recorded in the corresponding quarter of previous year. This is the first increase in the company's profit in the last six quarters.
Maruti Suzuki, controlled by Japan's Suzuki Motor, said its total income increased to Rs.11,388.96 crore in October-December period of the current financial year from Rs.7,906.21 crore recorded during the corresponding quarter of last financial year.
The company's sales and profit increased sharply during the quarter under review helped by strong demands for diesel-run car models like Dzire and Ertiga.
Maruti Suzuki share price surged 4.15 percent to Rs.1600.20 at the Bombay Stock Exchange.