Result / Maruti’s profit up 4% in December quarter to Rs 1587 crore, growth for the first time in the last 6 quarter
- In the December quarter of 2018, there was a profit of Rs 1524 crore.
- Revenue up by 5% at Rs 20721 crore, 2% growth in vehicle sales.
NEW DELHI: The country’s largest car company Maruti Suzuki posted consolidated profit of Rs 1,587.4 crore in the October-December quarter. This is 4.13% higher than the December quarter profit of 2018 (Rs 1,524.5 crore). Revenue grew by 5.29% to Rs 20,721.8 crore. 19,680.7 crore in the December quarter of 2018. The company announced quarterly results on Tuesday. Maruti’s profits rose for the first time in the last six quarters. There was a 39% decline in profits in the September quarter.
Margins rise due to reduced tax, operating expenses: Maruti Standalone profit grew by 5.1% to Rs 1,565 crore and revenue was up by 5.3% to Rs 20,707 crore. Tax expense of the company stood at Rs 441.6 crore in the previous quarter. 571 crore in the December quarter of 2018. Maruti had an Ebit margin of 10.1%. The company said margins were increased due to efforts to reduce costs, lower commodity prices, lower operating expenses and reduced corporate tax. However, growth was hindered by reasons such as promotion expenses and lower returns on investment.
4,13,698 vehicles sold in domestic market: Maruti sold a total of 4 lakh 37 thousand 361 vehicles in the last quarter. 4 lakh 13 thousand 698 vehicles were sold in the domestic market. The company exported 23 thousand 666 vehicles. This is 2% higher than the December quarter of 2018.
