New Delhi:  The Board of Directors of Maruti Suzuki India Limited today approved the financial results for the period October-December 2017-18 (Q3) and April-December 2017-18 (Nine Months).

Royalty on New Model Agreements: The Board discussed and approved a revision in the method of calculating royalty which would result in lower royalty payments for new model agreements starting the Ignis. This would be implemented after approval by the Board of Suzuki Motor Corporation.

Highlights: Quarter III (October-December 2017-18)

The Company sold a total of 431,112 vehicles during the Quarter, a growth of 11.3 per cent over the same period of the previous year. Sales in the domestic market stood at 400,586 units, a growth of 12.4 per cent. Exports were at 30,526 units.

During the Quarter, the Company registered Net Sales of Rs. 189,400 million, up 13.9 per cent over the same period previous year.

The operating profit was Rs 23,488 million, a growth of 26.7 per cent over the same period previous year on account of higher sales volume, cost reduction efforts, lower sales promotion expenses and forex benefit, partially offset by adverse commodity prices.

Net profit in Q3 (2017-18) stood at Rs 17,990 million, up 3 per cent compared to the same period last year.

While the operating profit increased by 26.7 per cent, the net profit increased by 3 per cent due to increase in effective tax rates and lower non-operating income due to mark-to-market impact on the invested surplus, compared to last year.

Highlights: Nine Months (April-December 2017-18)

The Company sold a total of 1,317,801 vehicles in nine months, a growth of 14.2 per cent. Sales in the domestic market stood at 1,226,418 units a growth of 15.5 per cent. Exports were at 91,383 units.

The Company’s net sales stood at Rs 575,105 million in April-December 2017-18, a growth of 17.6 per cent over the same period last year.

The operating profit was Rs 69,911 million, a growth of 19.0 per cent over the same period previous year on account of higher sales volume, favourable product mix, cost reduction efforts and forex benefit and partially offset by adverse commodity prices.

Net profit stood at Rs 58,397 million, up 3.5 per cent.

The operating profit increased by 19.0 per cent while the net profit increased by 3.5 per cent due to increase in effective tax rates and lower non-operating income due to mark-to-market impact compared to last year.