Maruti Suzuki's Profit Climbs on Sales Growth, Higher Margins
By Kosaku Narioka
Maruti Suzuki India's third-quarter net profit rose from a year earlier as sales grew and margin improved.
The Indian unit of Japan's Suzuki Motor said Wednesday that net profit climbed 33% from a year earlier to 32.07 billion rupees ($385.8 million) for the three months ended Dec. 31.
Third-quarter revenue increased 15% from a year earlier to INR335.13 billion as sales rose 7.6% to 501,207 units, led by sport utility vehicles.
Its net profit margin improved to 9.8% from 8.4% a year earlier, thanks to a drop in commodity prices, improved capacity utilization and cost cuts.
Exports grew 16% to 71,785 vehicles--the highest-ever in any quarter--as Maruti expands its lineup of vehicles for markets outside India.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
January 31, 2024 04:05 ET (09:05 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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