Maruti Q3 net up 4% at 1,587 cr

New Delhi: The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday reported 4.13 per cent rise in consolidated net profit at Rs 1,587.4 crore for December quarter 2019-20, riding on lower commodity prices, reduced corporate tax rate besides its cost reduction efforts.

The company had posted a net profit of Rs 1,524.5 crore in the same quarter last fiscal, MSI said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 20,721.8 crore as against Rs 19,680.7 crore in the year-ago period, up 5.29 per cent, it added.

The company sold a total of 4,37,361 vehicles during the quarter, up 2 per cent as compared to the same period previous year. Sales in the domestic market stood at 4,13,698 units, a growth of 2 per cent from the year-ago period.

Exports were at 23,663 units, it said. In a statement, the company said it was able to register higher net profit during the third quarter on "account of cost reduction efforts, lower operating expenses, lower commodity prices and reduction in corporate tax rate".