The Hindu Business Line : Maruti posts 48 pc rise in Q2 net profit

MARUTI Udyog Ltd has posted an 48 per cent rise in net profit for the second quarter of this fiscal as vehicle sales accelerated on the back of low interest rates.

Net profit stood at Rs 183.6 crore during July-September compared to Rs 123 crore during the second quarter of the last fiscal, a company statement said on Wednesday.

Net sales rose 25 per cent at Rs 2,698 crore (Rs 2,157 crore).

According to a company statement, the second quarter was marked by higher raw material prices compared to the same period last year, and the impact of price repositioning of Esteem, WagonR and Zen models.

The company's performance has been powered by a 19.3 per cent growth in total unit sales during the first half of the year.

Maruti sold 2,53,472 vehicles in the first half against 2,12,468 vehicles in the same period last year.

This includes export of 23,931 vehicles.

According to the statement, the company's market share in the domestic passenger car market went up to 55 per cent, from 54 per cent.

Sales of compact cars (Zen, WagonR, and Alto) grew 77 per cent in the period.

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