Suzuki's Q3 operating profit zooms threefold

Driven by robust sales of its Indian subsidiary Maruti Suzuki, Japanese auto major Suzuki Motor Corporation (SMC) today reported over three-fold increase in its operating profit at 18 billion yen (Rs 940.59 crore) for the quarter ended December 31, 2009.

The company had reported operating profit of 5.8 billion yen (Rs 303.03 crore) for the quarter ended on December 31, 2008, SMC said in a statement.

However, during the quarter under consideration, it has reported decline of 2.9 per cent in its net income at 597.2 billion yen (Rs 31,205.86 crore).

Its sales during the corresponding period last fiscal stood at 614.8 billion yen (Rs 32,132.76 crore).

The Indian subsidiary -- Maruti Suzuki India (MSI) -- had earlier reported over three-fold jump in its net profit at Rs 687.53 crore for the third quarter ended December 31, 2009. It had posted net sales of Rs 7,333.77 crore for the December quarter, up 62.51 per cent.

During the quarter, MSI, where SMC holds 54.2 per cent stake, sold 2,18,910 units, up 37.8 per cent from the same period a year ago.