Despite a slowdown in the automobile industry due to a hike in interest rates and fuel prices, India’s largest car manufacturer Maruti Suzuki India Limited (MSIL) on Tuesday reported a 18 per cent rise in net profit for the June quarter at Rs 549.2 crore.
The company had posted a net profit of Rs 465.4 crore during the corresponding period last year. The higher profit levels came on the back of an increase of 80 per cent from other incomes which stood at Rs 180.1 crore during the period.
Total income from operations during the quarter increased by 2.7 per cent at Rs 8,529.3 crore, against Rs 8,309.2 crore in the year-ago period.
Ajay Seth, chief financial officer, MSIL said: “External environment was challenging from both volumes and margins perspective. Petrol prices were unprecedented and interest rate hikes hurt customer confidence.”
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app