Maruti Suzuki fourth quarter profit jumps 15.8 percent to Rs 1,709 crore amid higher sales of premium models

Maruti Suzuki reported fourth-quarter profit at Rs 1,709 crore, witnessing a jump by 15.8 percent from the Rs 1,476.2 crore profit in same quarter last fiscal. The profitablity levels were aided by better revenue growth but contraction in margin limited growth.

"Growth in volumes, increase in share of company's higher segment models, benefits due to full capacity utilisation and cost reduction efforts contributed to increase in profits. This was partially offset by increase in commodity prices and adverse forex movement," the country's largest car maker reasoned.

Revenue from its operations increased 20.4 percent to Rs 20,751.2 crore compared with year-ago quarter, driven by healthy volume growth.

Maruti sold 4.14 lakh units during the quarter, a growth of 15 percent over 3.6 lakh units sold in same quarter last fiscal. Export increased 17.6 percent and domestic volumes grew by 15 percent year-on-year.