NEW DELHI: Maruti Suzuki‘s net profit surged 80% to Rs 3,717 crore in the July-September quarter, driven by higher sales of SUVs, softening commodity prices, cost reduction efforts and higher non-operating income. However, the company said that it is imperative to power the growth of small cars for the Indian market to grow strongly.
The company had a net profit of Rs 2,061 crore in the second quarter of the previous fiscal.
Maruti said it is expecting the affordability of small cars in the domestic market to come back in the next 2-3 years in the face of rising income levels of people and a growing economy, among others.
During the quarter under review, the company registered net sales revenue of Rs 35,535 crore against Rs 28,543 crore recorded in the same quarter of the previous fiscal, owing to higher sales volume and product mix.
The company sold 5.5 lakh units during the quarter compared to 5.2 lakh units in the second quarter of last year.
Maruti chairman R C Bhargava said that without the growth at the entry-level and the small car market, the Indian car industry cannot sustain good growth. “The importance of small cars coming back is that without them, we cannot sustain good growth levels in the car industry.”
The company had a net profit of Rs 2,061 crore in the second quarter of the previous fiscal.
Maruti said it is expecting the affordability of small cars in the domestic market to come back in the next 2-3 years in the face of rising income levels of people and a growing economy, among others.
During the quarter under review, the company registered net sales revenue of Rs 35,535 crore against Rs 28,543 crore recorded in the same quarter of the previous fiscal, owing to higher sales volume and product mix.
The company sold 5.5 lakh units during the quarter compared to 5.2 lakh units in the second quarter of last year.
Maruti chairman R C Bhargava said that without the growth at the entry-level and the small car market, the Indian car industry cannot sustain good growth. “The importance of small cars coming back is that without them, we cannot sustain good growth levels in the car industry.”
