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Maruti Suzuki Q2 net up 29% at Rs 862 cr

Board recommends increasing FII limit to 40%; dividend pay out ratio in range of 18-30%

Maruti Suzuki

The country’s largest car maker, Maruti Suzuki India Limited (MSIL), on Thursday reported 29 per cent increase in the net profit to Rs 862 crore for the second quarter ended September, on the back of cost reduction efforts and strong growth in domestic sales. The company had posted net profit of Rs 670 crore in the corresponding period of the previous financial year. The board of directors on Thursday decided to recommend increase in the FII (foreign institutional investment) limit to 40 per cent, broadly the level of public shareholding. This is subject to shareholder approval in ...