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Maruti Suzuki Q2 net profit at Rs.1,225 crore

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Mumbai: Passenger car major Maruti Suzuki India Ltd. on Tuesday said it has posted a net profit of Rs.1,225.56 crore for the second quarter of FY 2015-16.

In a regulatory filing with the BSE, the company said it posted a net profit of Rs.1,225.56 crore for the quarter ended September 30, 2015 as compared to Rs.862,54 crore for the quarter ended September 30, 2014.

The company’s total income during the period under review stood at Rs.14,070.85 crore up from Rs.12,497.03 crore for the quarter ended September 30, 2014.

Maruti Suzuki sold 3,53,335 vehicles during the quarter under review logging a growth of 9.8 percent.

Meanwhile, the company board also decided to amalgamate seven wholly owned subsidiaries involved in the business of insurance intermediation with Maruti Suzuki.

According to the company, the rationale for amalgamation is to economise on administrative and managerial costs; better synergies across the group and optimum utilisation of resources.