Maruti Suzuki, India’s leading carmaker, has bounced back from last year’s industrial strife at its main Manesar factory to post strong figures for its second fiscal quarter.
In the three months to the end of September, the company sold 275,586 vehicles, up 19.6% year on year. Exports jumped 66.6% to 34,024 units.
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Net sales grew 26.5% to INR102.1bn (US$1.6bn) while profit trebled to INR6.7bn.
The company noted in a statement that higher localisation and cost reduction initiatives contributed significantly to bottom line growth while the overall impact of foreign exchange was also positive during the quarter.
The Q2 performance took half-year net sales to INR202bn, up 8.6%, while profit doubled to INR13bn.
Maruti’s new diesel engine factory at Gurgaon and the third assembly facility at Manesar went on stream during the second quarter, taking total annual vehicle assembly capacity to 1.5m.
