The Board of Directors of Maruti Suzuki India Limited today approved the financial results for the period October-December 2019 (Quarter 3) and April-December, FY 2019-20.
Highlights: Quarter 3 (October-December 2019), FY19-20
The Company sold a total of 437,361 vehicles during the Quarter, higher by 2% compared to the same period previous year. Sales in the domestic market stood at 413,698 units, higher by 2%. Exports were at 23,663 units.
During the Quarter, the Company registered Net Sales of Rs. 196,491 million, higher by 3.8% compared to the same period previous year.
Net profit for the Quarter stood at Rs. 15,648 million, higher by 5.1% compared to the same period previous year on account of cost reduction efforts, lower operating expenses, lower commodity prices and reduction in corporate tax rate, partially offset by higher sales promotion expenses, higher depreciation, and lower fair value gains on invested surplus.
Highlights: 9M (April-December 2019), FY19-20
The Company sold a total of 1,178,272 vehicles during the period, lower by 16.1% compared to the same period previous year. Sales in the domestic market stood at 1,100,698 units, lower by 16.9%. Exports were at 77,574 units.
During the period, the Company registered Net Sales of Rs. 545,047 million, lower by 12.5% compared to the same period previous year.
Net profit for the period stood at Rs. 43,589 million, lower by 23.6% compared to the same period previous year on account of lower sales volume, higher sales promotion expenses and higher depreciation, partially offset by cost reduction efforts, higher fair value gains on invested surplus and reduction in corporate tax rate.
