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Maruti Suzuki’s Net Profit Soars on SUV Sales
Strong demand in India for small SUVs boosted net profits for Maruti Suzuki India Ltd. 23% to 14.9 billion rupees ($221 million) in April-June.
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Strong demand in India for small SUVs boosted net profits for Maruti Suzuki India Ltd. 23% to 14.9 billion rupees ($221 million) in April-June.
New-car deliveries for the period grew only 2% to 348,400 units, slowed by a fire in June by the company’s supplier of air-conditioning systems. But Maruti’s revenue jumped 13% to 167.1 billion rupees ($2.5 billion), thanks to a richer sales mix. Demand for the company’s new Vitara Brezza mini-SUV more than doubled.
The carmaker expects a gradual improvement in the Indian market ahead, aided by stable fuel prices. But it cautions that foreign exchange and commodity pricing shifts could hurt its results.
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