Maruti Suzuki Q3 net profit rises by 17.8 per cent to Rs 802 crore on high volumes

Maruti Suzuki India, the country's largest carmaker, on Tuesday reported a 17.8 per cent increase in net profit at Rs 802.2 crore for the third quarter ended December 31, 2014.

The company had posted a net profit of Rs 681.15 crore in the same period for the previous financial year, the auto major said in a filing to the Bombay Stock Exchange (BSE).

"Higher volumes, material cost reduction initiatives and favourable foreign exchange contributed to the bottomline during the quarter," Maruti Suzuki said in a statement.

Net sales during the quarter stood at Rs 12,263.14 crore, up 15.5 per cent as against Rs 10,619.68 crore in the corresponding year-ago period.

Volume sales in Q3 were up 12.4 per cent at 3,23,911 units as compared to 2,88,151 units in the same three-month period in FY14, it added.

The company's domestic sales stood at 2,95,202 units as against 2,68,185 units in the same period of the 2013-14 financial year while exports stood at 28,709 units as compared to 19,966 units in the year-ago period.

The scrip was trading at Rs 3692.60 a piece, up 83.95 points (or 2.33 per cent) during afternoon session on the BSE.