Maruti Q1 net profit jumps 35 pc

NEW DELHI: Top car maker Maruti Udyog said on Thursday that first quarter net profit jumped 35.2 per cent on strong sales growth.

Maruti, majority owned by Japan's Suzuki Motor Corp, reported net profit of Rs 5.0 billion (125 million dollars) in the April-June quarter, with sales up 27.1 per cent to Rs 41.54 billion.

Vehicle sales rose 17.1 per cent to 169,669. The company's shares rose Rs 39.40 or 4.87 per cent to 843.09, bucking a weaker market where the benchmark 30-share Mumbai stock exchange Sensex index was down 12.04 points to 15,687.29 in afternoon trade.

India's rapidly expanding economy has created a more affluent middle class that has spurred demand for cars.