Maruti's net profit jumps 49 percent on weak yen

REUTERS - Maruti Suzuki, India's biggest carmaker, posted a 49 percent jump in first-quarter net profit as a drop in sales volumes was offset by cheaper imports from Japan due to a decline in the value of the yen.

Maruti, 56.2 percent owned by Japan's Suzuki Motor Corp <7269.T>, said net profit rose to 6.32 billion rupees for the three months to June from 4.24 billion rupees a year earlier. The results included the impact of the company's merger with its engine production unit.

Analysts on average had expected the company to report a net profit of 6.62 billion rupees for the period, according to Thomson Reuters I/B/E/S.

 

(Reporting by Aradhana Aravindan in MUMBAI; Editing by Matt Driskill)