Maruti Suzuki India, the largest passenger cars maker in India, today posted a rise of 56.49% in net profit for the first quarter. The company reported a net profit of Rs 11.93 billion for the third quarter ended Jun. 30, 2015 compared with Rs 7.63 billion in the same period last year.

Total income for the quarter increased 17.47% to Rs 134.24 billion, compared with Rs 114.28 billion for the prior year period.

Commenting on the performance, the company said, 'During the quarter, higher volumes, cost reduction efforts, lower sales promotion expenses, and favourable foreign exchange helped improve the performance.'

During the quarter, the company sold a total of 341,329 vehicles, a growth of 13.8% over the same period of the previous year. Sales in the domestic market stood at 305,694 units, a growth of 13.0%. Exports were at 35,635 units, up 21.8%.

Shares of the company gained Rs 17.65, or 0.42%, to trade at Rs 4,194. The total volume of shares traded was 118,067 at the BSE (1.02 p.m., Tuesday).