Shares of Maruti Suzuki India Limited on Thursday closed at Rs.7600 per share down by 3.44 percent as compared to the previous close of Rs. 7870.90 on the NSE

Q3 Earning Results: Indian automobile manufacturer Maruti Suzuki India Limited on Thursday reported a rise of 24.1 percent in its net profit for the quarter ended December 31, 2020, led by higher sales and non-operating income.

According to the Company, the net profit during the quarter under review rose to Rs 1,941.4 crore from Rs 1,564.8 crore during the corresponding period of previous fiscal. "During the quarter, the company registered net sales of Rs 222,367 million, an increase of 13.2pc compared to the same period previous year," the company said in a statement. "The 'Operating Profit for the Quarter' was at Rs 14,848 million, a growth of 19.3pc over the same period previous year on account of higher sales volume and cost reduction efforts partially offset by increase in commodity prices and adverse foreign exchange movement.

" Besides, the company sold a total of 495,897 vehicles during the quarter, higher by 13.4pc compared to the same period previous year. "Sales in the domestic market stood at 467,369 units, growing by 13pc. Exports were at 28,528 units, higher by 20.6pc." Furthermore, the company's sales fell by 18pc during the first nine months of FY21 to 965,626 vehicles. "Sales in the domestic market stood at 905,015 units, lower by 17.8pc. Exports were at 60,611 units, declining by 21.9pc." "During the period, the company registered net sales of Rs 436,035 million, lower by 20pc compared to that in the same period previous year.

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