Automobile major Maruti Suzuki India on Tuesday reported a rise of 5.1 per cent in its standalone net profit for the quarter ended December 31, 2019. According to Maruti Suzuki, the net profit during the quarter under review increased to Rs 1,564.8 crore, from Rs 1,489.3 crore during the corresponding period of the previous year.

“Net profit for the quarter stood at Rs 15,648 million, higher by 5.1 per cent compared to the same period previous year on account of cost reduction efforts, lower operating expenses, lower commodity prices and reduction in corporate tax rate, partially offset by higher sales promotion expenses, higher depreciation, and lower fair value gains on invested surplus,” the company said in a statement.

Besides, the company’s net sales rose by 3.8 per cent to Rs 19,649.1 crore compared to the same period previous year.