Maruti Suzuki net profit rises 24% in Q3

The third quarter on 2020 that ended on 31st December saw the net profit of Maruti Suzuki rise by Rs.1,940 crore compared to Q3 of 2019. The company sold 13.4% more vehicles than last year.

Maruti said in a statement that their sales volume for the FY2019-2020 was low by 16%. They owed this growth to “higher sales volume and cost reduction efforts partially offset by increase in commodity prices and adverse foreign exchange movement”, according to them.

For nine months starting April and ending December, Maruti sold 18.0% less than last year. The domestic market sales and export sales were 17.8% and 21.9% lower respectively.

 

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