INDIA: Maruti Suzuki’s nine-month net profit rises 15.8%
Maruti Suzuki India sales rose 45.6% year on year to INR109.57bn (US$2.03bn) for the fiscal third quarter to 31 December 2012 due to higher volumes, favourable model mix and more exports. Net profit rose almost 144% to INR5.01bn.
The growth in net profit was primarily due to higher sales and a good response from the domestic market to new models like the Ertiga and Swift DZire. Cost reductions also boosted Q3 profit.
During the third quarter, the automaker sold 268,957 units in India, up 27% and exported 32,496 units, up 17.2%.
For the nine months to 31 December, sales rose 27.3% to INR295.56bn and net profit was up 15.8% to INR11.53bn.
Sales in India were up 8.4% to 742,175 units but exports slipped to 85,550 units from 88,469.
New Delhi: The Board of Directors of Maruti Suzuki India Limited, approved the financial results for the quarter ending December, 2012.
The Company registered Net Sales (net of excise) of Rs. 109,570 million, an increase of 45.6 per cent over the same period in the previous year.
The growth in Net Sales was on account of higher volumes, favourable model mix and enhanced export realisation.
Net Profit during the quarter stood at Rs. 5,013 million, a growth of 143.8 per cent.
The growth in Net Profit was primarily due to higher sales and good response to new models like Ertiga and Swift DZire. The Company’s continued cost reduction efforts helped to drive profit in the quarter.
During the quarter, the Company sold 268,957 units in the domestic market, compared to 211,803 units, reflecting a growth of 27 per cent. The Company exported 32,496 units during the quarter, up 17.2 per cent.
9 Months: Apr-Dec (2012-13 Vs 2011-12)
In nine months of 2012-13, the Company’s Net Sales (net of excise) stood at Rs. 295,563 million, an increase of 27.3 per cent over same period in the previous year.
Net Profit during nine months (2012-13) stood at Rs. 11,525 million, a growth of 15.8 per cent.
During the nine month period, the Company sold 742,175 units in the domestic market, reflecting a growth of 8.4 per cent. Exports during April-Dec 2012 stood at 85,550 units against 88,469 units in April-Dec 2011.
Original source: Maruti
The media days for the 2013 Frankfurt Internationale Automobil-Ausstellung (IAA) are 10 & 11 September. Each of the following vehicles is a world premiere at the show....
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
Sales growth of 34% in the first half of this year has catapulted Suzuki into the UK top 20, ahead of Volvo and Mazda and nibbling at the heels of Renault....
Maruti Suzuki India Ltd, India's biggest carmaker, aims to sell more cars overseas to offset slowing demand at home, where it expects sales to grow 5% or less in the current financial year....
Maruti Suzuki boosted net profit for its first fiscal quarter 49% to INR6,316m, citing cost reduction, favourable foreign exchange rates and a benefit from merging Suzuki Powertrain India last fiscal ...
Flush with the success of its recently launched entry-level Amaze sedan, Honda's Indian unit has fast tracked plans to launch a seven-seater multi purpose vehicle (MPV) to compete with Maruti Suzuki's...
Suzuki expects car sales in Russia flat year on year at 33,000 units in 2013, Koichi Takakura, general director of Suzuki Motor Rus, told reporters....
- ANALYSIS: Will the XE work for Jaguar?
- COMMENT: GM's new Camaro to join a surging segment
- COMMENT: UK vote sets cat among Brussels pigeons
- ANALYSIS: Autonomous cars and interior design
- Williams CEO eyes consultancy business expansion
- ZF completes TRW buy to create EUR30bn supplier
- INDIA: Tata learns from mistakes with GenX Nano
- Ford UK stresses importance of low interest rates
- Takata recall widens to 33.8m vehicles in US
- Nissan's Ghosn relaxed on R-N Alliance structure