Maruti Suzuki India rose 1.23% to Rs 8,353 after the company said it has planned price increase in April 2023 which shall vary across models.
"The company continues to witness increased cost pressure driven by overall inflation and regulatory requirements. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase," the company said in exchange filing.Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components, and spare parts (automobiles).
The company's consolidated net profit surged 129.6% to Rs 2,391.50 crore on 25.5% jump in net sales to Rs 27,852.60 crore in Q3 FY23 over Q3 FY22.
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