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BRIEF-Maruti Suzuki India says Q1 costs were impacted by higher commodity prices, expenses‍​
July 27, 2017 / 8:13 AM / 4 months ago

BRIEF-Maruti Suzuki India says Q1 costs were impacted by higher commodity prices, expenses‍​

July 27 (Reuters) - Maruti Suzuki India Ltd:

* Says costs were impacted by higher commodity prices, and sales promotion & marketing expenses‍​ in Q1

* In quarter, there was one-off impact of compensation to dealers for tax loss incurred on vehicles in stock at time of transitioning to GST Source text: [The Board of Directors of Maruti Suzuki India Limited today approved the financial results for April-June 2017 (Quarter 1). The Company sold 394,571 vehicles in Q1, a growth of 13.2% over same period previous year. Of this, exports were at 26,140 units. The Company’s net sales in Q1 2017-18 stood at Rs 171,324 million, a growth of 16.7% over the same period previous year. Profit Before Tax in the quarter stood at Rs 22,987 million, reflecting a growth of 12.3% over same period previous year. However, the Net Profit in Q1, Rs 15,564 million, grew by 4.4% compared to previous year due to higher deferred tax provision. Growth in volumes, favourable product mix, higher non-operating income and cost reduction efforts contributed to increase in profits. However, costs were impacted by higher commodity prices, and sales promotion & marketing expenses. During the quarter there was a one-off impact of compensation given to dealers for the tax loss incurred on vehicles in the stock at the time of transitioning to GST.] Further company coverage:

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