Maruti Suzuki’s total vehicle sales for the third quarter increased about 11.3% to 431,112 units. The company, majority-owned by Japan’s Suzuki Motor Corp, reported a profit of Rs1,799 crore ($282.91 million) for the third quarter ended 31 December, versus Rs1,747 crore a year earlier. Maruti’s results are important for Suzuki Motor as the Indian company provides the bulk of Suzuki Motor’s revenues and has a market value of close to $45 billion, about one-and-a-half times that of its parent. Sales of compact vehicles, which include the Swift and Baleno, rose 26.9%, while sales of utility vehicles including the Ertiga and Vitara Brezza climbed 28.1%. Maruti Suzuki shares are among the best performers in India’s main stock index over the past year, rising nearly 65% compared to the broader market’s 31% gain.

Source: Mint January 25, 2018 10:50 UTC