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Maruti Suzuki Q3 Results: Maruti Suzuki India’s net profit rises in third quarter

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Ltd reported a rise in third-quarter profit on Tuesday, as the carmaker sold more vehicles.

Maruti sold 4,37,361 vehicles during the December quarter, up 2% from a year earlier.

The country’s largest carmaker by market value reported a net profit of Rs 1,565 crore ($220.21 million) for the three months ended December 31, compared with Rs 1,489 crore a year earlier.

Maruti prices to rise by up to Rs 10,000

Maruti Suzuki has increased prices of some of its models by between Rs 1,500 and Rs 10,000. The Alto mini will be dearer by between Rs 6,100 and Rs 9,300, while the S-Presso will be dearer by Rs 1,500 and Rs 8,000. On the WagonR, the prices will go up between Rs 1,500 and Rs 4,000, while the Swift and the XL6 MPV will be expensive by Rs 5,000.

Revenue from operations rose over 5% to Rs 20,707 crore, the company, majority owned by Japan’s Suzuki Motor Corp, said.

The results come as the auto industry faces tighter credit, higher insurance costs and a pile-up of inventory.

Some carmakers have halted production to adjust inventory levels, leading to massive layoffs of workers at automakers, parts makers and car dealers.



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