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The country’s largest carmaker, Maruti Suzuki India, has reported 26.91 per cent per cent increase in standalone net profit at Rs 1,975.3 crore for the first quarter ended June 30, 2018. The company had posted a net profit of Rs 1,556.4 crore in the April-June period quarter last fiscal.
According to a regulatory filing, sales during the period under review stood at Rs 21,810.7 crore. Last year, the sales stood at Rs 19,374.1 crore.
Maruti Suzuki said the two figures are not comparable as revenue from operation is net of GST since the implementation of the new tax regime in July 2017. During the first quarter of the current fiscal, the company had sold 4,90,479 vehicles, a growth of 24.3 per cent over the year-ago period.
“Sales in the domestic market stood at 4,63,840 units, a growth of 25.9 per cent. Exports were at 26,639 units,” it said.
During the period, operating margins improved due to lower advertisement spend but was partially offset by adverse commodity prices.
Maruti Suzuki shares plunged as much as 4 per cent to Rs 9,369.05 on the BSE.
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