India‘s top carmaker Maruti Suzuki’s June-quarter net profit up 56% to KRW 220 billion

Jul 30, 2015, 10:20 am

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By Ha Man-joo, India correspondent, AsiaToday - Maruti Suzuki India Ltd, India's largest carmaker, posted a 56 percent increase in net profit for the second quarter of 2015, reported local media outlets on July 29. Maruti said profit for the April-June quarter was 11.9 billion rupees (KRW 216.3 billion), up from 7.6 billion rupees (KRW 138.3 billion) in the same period a year earlier. Its profit for the January-March quarter was 12.8 billion rupees (KRW 232.8 billion). Net sales rose about 17 percent to 134.2 billion rupees.

The company sold a total of 341,329 vehicles during the quarter, a growth of 14 percent over the same period previous year. While sales in the domestic market grew 13 percent to 30,5694 units, exports were up 22 percent to 35,635 units.

Such performance was mostly helped by higher sales and lower costs. In particular, cost reduction due to low exchange rate of the yen played a big part. Total expenses as a percentage of net sales fell to 91 percent during the quarter from 96 percent in the year ago period. Maruti Suzuki imports main car components from Japan and also pays royalty to its Japanese parent, Suzuki.

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