MUMBAI (Reuters) - Maruti Suzuki, India's top carmaker, reported an unexpected 25 percent rise in quarterly net profit as it rode on higher sales, new product launches and a drop in raw material pr
ices. Maruti, in which Japan's Suzuki Motor Corp holds a 54.2 percent stake, said net profit rose to 5.84 billion rupees ($120.4 million) from 4.66 billion rupees reported a year ago. That compared with a forecast of 4.49 billion rupees in a Reuters poll of 14 brokerages. Maruti sells around one in every two cars in India with models such as the best-selling Alto and recently launched hatchbacks A-Star and Ritz. Shares in Maruti, valued at $7.4 billion, rose 37.5 percent in the June quarter, lagging the main index that rose 49 percent and the sector index's 49 percent gain.
Source: http://in.reuters.com/article/businessNews/idINIndia-41255720090723
ices. Maruti, in which Japan's Suzuki Motor Corp holds a 54.2 percent stake, said net profit rose to 5.84 billion rupees ($120.4 million) from 4.66 billion rupees reported a year ago. That compared with a forecast of 4.49 billion rupees in a Reuters poll of 14 brokerages. Maruti sells around one in every two cars in India with models such as the best-selling Alto and recently launched hatchbacks A-Star and Ritz. Shares in Maruti, valued at $7.4 billion, rose 37.5 percent in the June quarter, lagging the main index that rose 49 percent and the sector index's 49 percent gain.Source: http://in.reuters.com/article/businessNews/idINIndia-41255720090723
No comments:
Post a Comment