Automobile manufacturer Maruti on Tuesday reported a 5% jump in net profit on a year on year basis which has been placed at Rs. 1546.80 crore in the quarter ended December of FY20 versus profit of Rs. 1489.30 crore in the same quarter a year ago.
In the December ended quarter, efforts pertaining to cost reduction, lower operating expenses, commodity prices as well as corporate tax rate cut were to an extent mitigated by an increase in sales promotion expenses, higher depreciation as well as lower fair value gains on invested surplus.
Soon after the results, the stock of Maruti Suzuki was trading lower by 1.15% or Rs. 82.25 at Rs. 7061.5 per share on the BSE.