India's largest carmaker Maruti Suzuki reported a 14% increase in net sales for the third quarter, but net profit increased by only 3% due to a rise in tax expenses and investment losses.
Maruti sold a total of 431,112 vehicles during the quarter, up about 11.3 percent from a year earlier.
Net profit in the October-December'17-18 period stood at Rs 1,799 crore against Rs 1,747 crore in the same period of the previous fiscal. In evolving clean solutions for India, Maruti Suzuki will work on a portfolio of xEV technologies to accelerate electrification of powertrains in India, symbolizing a critical part of the clean solution.
Analysts expect net realisations to increase by 2.6 percent to Rs 4.46 due to better product mix.
Maruti Suzuki registered the most substantial increase in sales in the utility vehicle segment with 65,730 units, up 28.14 per cent in comparison to 51,295 units in the year ago period.
Oil prices fall on stronger United States dollar
Indeed, earlier this week, OPEC member, Saudi Arabia, said "cooperation" between OPEC and its partners will continue beyond 2018. According to reports, Brent crude oil was up 0.34 per cent at $70.76 a barrel on London's Intercontinental Exchange.
Maruti Suzuki has completed preparations for the launch of its new Generation Hatchback Swift and the company will launch it in February 2018.
In the end there will be the much awaited launch of the all new third-generation Swift, the price and delivery dates will also be announced.
MSI has already stated that it planned to launch an electric vehicle in India in 2020.
In the filing, Maruti Suzuki said the board discussed and approved changes in method for calculating royalty which will lead to lower royalty payments for new model agreements.
A subsidiary of two-wheeler manufacturer, Suzuki Motor Corporation, Japan, the Suzuki pavilion will be located in Hall No. 2 at the Auto Expo. The company's stock closed the day at Rs 9,277 on the Bombay Stock Exchange, down 1.6%.