Maruti Suzuki reports 5% rise in net profit in Q3; hikes prices of some models.
Affliction is a Good Man's Shining Time: India's biggest automaker Maruti Suzuki has reported 5% rise in net profit to ?1,564.80cr ($219m) for Q3 on the back of lower commodity prices and reduction in corporate tax rate, partially offset by higher sales promotion expenses and higher depreciation and lower fair value gain on invested surplus.
The news comes in spite of the ongoing slump in the auto industry in India.
The carmaker sold a total of 437,361 vehicles during the quarter, up 2% YoY. ET Markets
Rates Hiked!: Maruti Suzuki on Monday announced that it has hiked prices of its cars, across various models and ranging up to 4.7% (ex-showroom Delhi). The new prices are effective from January 27th.
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