Maruti Suzuki has released the official numbers for its sales, revenue and profits for the third quarter of FY 2015-16. The company, in spite of facing tough challenges from all quarters has beaten the street expectations yet again and posted impressive numbers. Even with international car makers trying to attack MSIL in its core segments, the company is sitting on a market share of 47%, probably the largest for any car maker across the world in a reasonably sized market. The financial results of the company have been approved by the Board of Directors of Maruti Suzuki India Limited for the quarter ending December 2015, and they look impressive.
For the quarter ended December 2015, MSIL sold a total of 374,182 vehicles, a growth of 15.5 per cent. Of this, exports were at 31,187 units, a growth of 8.6 per cent. The Company registered Net Sales (net of excise) of Rs. 147,677 million, a growth of 20.4 per cent over the same period in the previous year. Net profit in Q3 (2015-16) stood at Rs 10,193 million, up 27.1 per cent compared to the same period last year.
The company states that higher volumes, material cost reduction initiatives and favorable foreign exchange contributed to profit during the quarter.
For the period of 9 months (Apr-Dec) 2015-16, MSIL sold a total of 1,068,846 vehicles , a growth of 13.0 per cent. Of this, exports were at 96,888 units, a growth of 5.1 per cent. The Company registered Net Sales (net of excise) of Rs 414,209 million, a growth of 17.2 per cent over the same period last year. Net profit stood at Rs 34,378 million, up 41.6 per cent.