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The Board of Directors of Maruti Suzuki India Limited today approved the financial results for April-June 2017 (Quarter 1).
The Company sold 394,571 vehicles in Q1, a growth of 13.2% over same period previous year. Of this, exports were at 26,140 units.
The Company’s net sales in Q1 2017-18 stood at Rs 171,324 million, a growth of 16.7% over the same period previous year.
Profit Before Tax in the quarter stood at Rs 22,987 million, reflecting a growth of 12.3% over same period previous year. However, the Net Profit in Q1, Rs 15,564 million, grew by 4.4% compared to previous year due to higher deferred tax provision.
Growth in volumes, favourable product mix, higher non-operating income and cost reduction efforts contributed to increase in profits. However, costs were impacted by higher commodity prices, and sales promotion & marketing expenses. During the quarter there was a one-off impact of compensation given to dealers for the tax loss incurred on vehicles in the stock at the time of transitioning to GST.
(*Net Sales= Sale of Products - Excise Duty)