The Board of Directors of Maruti Suzuki India Limited today approved the financial results for the period July-September 2016-17 (Q2) and April-September
Highlights : Quarter II (July-September 2016-17)
The Company sold a total of 418,470 vehicles during the Quarter, a growth of 18.4 per cent over the same period of the previous year. Sales in the domestic market stood at 383,030 units, a growth of 18.5 per cent. Exports were at 35,440 units, up 17.9 per cent.
During the Quarter, the Company registered Net Sales (net of excise) of Rs. 175,946 million, up 29.5 per cent over the previous year.
Net Profit was Rs 23,980 million, a growth of 60.2 per cent over same period previous year.
Higher volumes leading to higher capacity utilisation, lower expenses on sales promotion and marketing and higher non-operating income contributed to increase in profits. This was partially offset by adverse foreign exchange movement.
Highlights : H1 (April-September 2016-17)
The Company sold a total of 766,913 vehicles in H1 a growth of 10.4 per cent. Sales in the domestic market stood at 705,370 units a growth of 12.1 per cent. Exports were at 61,543 units
The Company’s net sales stood at Rs 322,806 million in April-September 2016-17, a growth of 20.9 per cent over the same period last year.
Net profit stood at Rs 38,842 million, up 43.6 per cent.
Higher volumes, higher non-operating income and material cost reduction initiatives contributed to profit. This was partially offset by adverse foreign exchange movement.
Note: The financial results for the Quarter and H1 have been prepared in compliance with the Indian Accounting Standards (Ind-AS) and for a like to like comparison, the results of Q2 2015-16 and H1 2015-
16 have been restated.