Maruti net profit jumps 48pc in Q2 |
AFP, New Delhi
India's largest carmaker Maruti announced Wednesday second quarter net profit jumped 48 percent, driven by a surge in demand from India's burgeoning middle class buyers and easier credit.
Net proft of Maruti Udyog Ltd, majority owned by Japan's Suzuki Motor Co, rose to 1.84 billion rupees (40 million dollars) in the three months to September on sales that jumped 22.5 percent to 27.90 billion rupees.
The demand for cars has boomed against a backdrop of rising affluence among middle class buyers, who have benefitted from strong economic growth.