Maruti Suzuki Q1 profit jumps 49 pct on weak yen
July 25 (Reuters) - Maruti Suzuki India Ltd, India's biggest carmaker, posted a 49 percent jump in first-quarter net profit as a drop in sales volumes was offset by cheaper imports from Japan due to a decline in the value of the yen.
Maruti, 56.2 percent owned by Japan's Suzuki Motor Corp , said net profit rose to 6.32 billion rupees ($107 million) for the three months to June from 4.24 billion rupees a year earlier. The results included the impact of the company's merger with its engine production unit.
Analysts on average had expected the company to report a net profit of 6.62 billion rupees for the period, according to Thomson Reuters I/B/E/S.
($1 = 59.0900 Indian rupees)
(Reporting by Aradhana Aravindan in MUMBAI; Editing by Matt Driskill)
- White House reverses, says Obama met uncle and lived with him during law school
- South Africans, some fearful, wake to life without Mandela |
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- U.S. television, Twitter, alive with new version of 'Sound of Music'
- Key U.S. lawmakers urge China to back off on air defense zone