Maruti Q2 profit up 60% on record sales

Tribune News Service & PTI

New Delhi, October 27 

Riding on record sales, country’s largest carmaker Maruti Suzuki India today posted 60.18% jump in net profit to Rs 2,398 crore for the quarter ended September 30, its “best ever” quarterly profit.

Its total income from operations rose by 29.28% to Rs 20,296.8 crore during the second quarter of the current fiscal as against Rs 15,699.7 crore in the year-ago period, MSI said.

The company sold 4,18,470 vehicles during the quarter under review, a growth of 18.4% over a year ago.

Maruti Suzuki India Chairman RC Bhargava said: “It has been in many ways best quarter we have ever had.” As per the second quarter performance in the ongoing fiscal, on annualised basis, the production would have crossed 1.7 million cars, which is “way beyond 100 per cent capacity utilisation”, he added.

IOC posts Rs 3,122-cr profit 

Indian Oil Corp today reported a net profit of Rs 3,121.89 crore for the second quarter ended September, as against a net loss of Rs 450.24 crore in the same period of last fiscal. Turnover of the state-owned firm increased to Rs 1,00,273.94 crore in the July-September quarter of the current fiscal, from Rs 97,299.25 crore a year ago, the company said. 

ONGC profit rises by 6%; announces bonus share 

ONGC today reported 6% rise in its second quarter net profit and announced a bonus share to increase liquidity ahead of government disinvestment.Net profit of Rs 4,974.92 crore in the July-September quarter of the current fiscal was 6.2% higher than Rs 4,681.39 crore earning in the same period a year ago, the company said in a regulatory filing.