Maruti Suzuki Q3 results out; net down by 18pc

Written by: Abdul Nisar
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Maruti Car

Mumbai, Jan 29: India's largest car maker, Maruti Suzuki India, has announced the financial results for the third quarter of 2010-11 (Oct- Dec 2010) on Saturday, Jan 29. Eventhough the company achieved highest-ever sales in the domestic market in Oct 2010, the net profit for the Q3 has declined by 17.80 percent.

Earlier in 2009 third quarter, Maruti Suzuki India (MSI) achieved a net profit of Rs 687.53 crore but it decreased to Rs 565.17 crore in the 2010 third quarter. MSI said that the increase in input costs, adverse foriegn exchange movement and higher royalty payout affected the net profit.

Meanwhile, MSI the company achieved Net Sales (net of excise) of Rs 92,767 million during the third quarter of 2010-11, a growth of 26.5 per cent over the same period in 2009. Also, company's domestic sales volume grew by 36.8 percent to 299,527 units in Q3.

Maruti said that their esteemed products like Alto, Wagon R and Swift continued their explosive growth in Q3. They also added that almost all models achieved good sales in this quarter.

The company"s volume in the domestic A2 segment grew by 35.3 per cent, while in the A3 segment, sales volume grew by 26.4 per cent, compared to sales in October-December 2009. The Company"s sales in the C segment, comprising Omni and Eeco, grew a robust 78.5 per cent.

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