Reported By:
| Edited By: |Source: PTI |Updated: Mar 30, 2018, 02:22 AM IST
Top car maker Maruti Suzuki's December quarter net profit more than tripled on improved sales, the company said on Saturday.
Maruti, in which Japan's Suzuki Motor Corporation holds a 54.2% stake, reported a net profit of Rs6.88 billion ($149.2 million) compared with 2.14 billion a year earlier.
Net sales rose to Rs73.34 billion from 45.13 billion a year ago.
A Reuters poll of 13 brokerages forecast net profit at Rs5.77 billion on net sales of 74.96 billion.
The company sold 258,026 vehicles in the quarter, a rise of nearly 49% from a year earlier.
Maruti sells around one in every two cars in India, with models including the best-selling Alto, A-Star and Ritz hatchbacks and the popular sedan Swift D'Zire.
Shares in Maruti, valued at $9 billion, fell 8.2% in the December quarter, compared with a near 2% rise in the main index.
