Maruti Suzuki's Q3 net profit up 3% to Rs 1,799 crore

The net profit increased by 3% due to increase in effective tax rates and lower non-operating income.

Mumbai: Automobile major Maruti Suzuki India on Thursday reported a rise of 3 percent in its net profit for the third-quarter (Q3) of FY18.

According to the automaker, its net profit during the quarter under review increased to Rs 1,799 crore from Rs 1,747.2 crore reported for the corresponding period of last financial year.

"The operating profit was Rs 30,378 million, a growth of 22.1 percent over the same period in the previous year on account of higher sales volume, cost reduction efforts, lower sales promotion expenses and forex benefit, partially offset by adverse commodity prices," the company said in a statement. 

"While the operating profit increased by 22.1 percent, the net profit increased by 3 percent due to increase in effective tax rates and lower non-operating income due to mark-to-market impact on the invested surplus, compared to last year."