Maruti Suzuki's Q2 net profit up 3%

Automobile major Maruti Suzuki India on Friday reported a rise of 3.4 per cent in its net profit for the second quarter (Q2) of 2017-18.

According to the company, its net profit during the quarter under review increased to Rs 2,484.3 crore from Rs 2,401.5 crore reported for the corresponding period of last fiscal.

"The operating profit increased by 24 per cent while the net profit increased by 3.4 per cent due to lower non-operating income as the yields on investments were lower compared to last year, and some impact of commodities and advertisement expenses, and increase in effective tax rates," the company said in a statement.

Maruti Suzuki's Q2 net sales rose by 21.8 per cent to Rs 21,438.1 crore over the same period previous year.

The company sold a total of 492,118 vehicles during Q2, a growth of 17.6 per cent over the same period of the previous year. Sales in the domestic market stood at 457,401 units, a growth of 19.4 per cent.

--IANS

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