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