Indian passenger car market leader Maruti Udyog – controlled by Suzuki – has registered a 270-percent growth in net profit in FY 2003-04 over the previous fiscal year.
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The company’s total income for the year stood at INR 97.51 billion (Euro 1.77 billion) during FY 2003-04, growth of 31% over the previous year. Profit Before Tax went up to INR 7.698 billion (Euro 139.96 million) in 2003-04, growth of 173% over the previous year. Net Profit stood at INR 5421.8 million (Euro 98.58 million), up 270% over fiscal 2002-03.
Maruti sold a total 472,122 units during 2003-04, growth of 340-percent over FY 2002-03. This figure represents the highest ever sales for the company since it began operations 20 years ago. This figure also includes exports of 51,175 units, the highest since Maruti began exporting cars in 1986. Most of the exports were of he Alto being exported to Europe.
Sales of the Maruti 800, India’s largest selling car, went up by 17 per cent. The 800 model has been in the market since Maruti started operations in 1983.
The largest growth in terms of percentage came from the B-segment where Maruti has three models – the Zen (last generation Suzuki Alto), the Wagon R and the current generation Alto. The introduction of styling updates to the Zen and Wagon R and a lower end variant in the Alto range has seen the Maruti B-segment grow by over 130 per cent.
This year also saw Maruti’s new businesses of Maruti Insurance, Maruti Finance, Maruti True Value and Maruti N2N becoming fully operational.
Deepesh Rathore / Tilak Swarup
