indo-asian news service, Mumbai, July 28: Automobile major Maruti Suzuki Tuesday reported a rise of over 56 per cent in its net profit for the first quarter of the current fiscal. According to the company, its net profit for the quarter ended June 30, 2015 stood at Rs 1,192.92cr, up from Rs762.28cr in the corresponding period of 2014-15.
“During the quarter, higher volumes, cost reduction efforts, lower sales promotion expenses, and favourable foreign exchange helped improve the performance,” the company was quoted as saying in a statement.
Net sales for the quarter under review rose by 18.1 per cent to Rs13,078.32cr over the corresponding period’s sales of Rs11,073.51cr.
However, the other income of the automobile major marginally declined by 2.24 per cent in the quarter under review to Rs346.61cr from Rs354.58cr in the corresponding period of 2014-15.
The automobile manufacturer sold a total of 341,329 vehicles during the quarter under review, which represents a growth of 13.8 per cent.
The company had an off-take of 299,894 units during the same period of the previous year.
The turnover which includes net sales and other income in the period under review was higher by 17.47 per cent at Rs13,424.93cr from Rs11,428.09cr in the first quarter of last fiscal.
The company’s scrip at the Bombay Stock Exchange (BSE) gained by 0.54 per cent or 22.70 points around 2 pm Tuesday and stood at Rs4,199.05 from its previous close of Rs4,176.35 per equity share.