Maruti Suzuki India's Quarterly Profit Up 16%

Maruti Suzuki India Ltd. (532500.BY) said Thursday that its profit rose 16% last quarter from a year earlier, helped by higher sales of pricier cars and cost reductions.

India's dominant passenger-car brand said its net profit rose to 17.09 billion rupees ($267 million) in the three months through March, from 14.76 billion rupees a year earlier. Its net sales increased 20% to 180.05 billion rupees.

"Growth in volumes, increase in share of the company's higher segment models, benefits due to full capacity utilization and cost reduction efforts contributed to increase in profits," Maruti said.

The Suzuki Motor subsidiary sold 414,439 vehicles last quarter, a 15% increase from a year earlier

(END) Dow Jones Newswires

April 27, 2017 04:54 ET (08:54 GMT)