Shares of Maruti Suzuki India on Thursday slipped by 0.54% on the Bombay Stock Exchange Sensex to Rs 5,840 after it announced that its second quarter net profit had jumped by 60.18% to Rs 2,398 crore year on year. Officials cited reduced expenses as a reason for the result, Reuters reported.
India's largest automobile manufacturer, which is controlled by Japan's Suzuki Motor Corp, had posted a Rs 1,497-crore net profit in the September 2015 quarter. Analysts had predicted a Q2 2016 profit of Rs 1,792 crore, according to Reuters. The company also reported a 29% rise in income from operations to Rs 20,297 crore.
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