Maruti Q4 net up 24 pc, net profit of Rs 488 crores

New Delhi, Apr 24: Country's largest car-maker Maruti Udyog Ltdtoday posted 24 per cent increase in its net profit at Rs 448.56 crorefor the fourth quarter ended March 31, 2007 as compared to Rs 360.92crore for the corresponding period last year.

The company's total income also rose to Rs 4,634.74 crore in thesaid period in comparison to Rs 3,392.27 crore for the quarter endedMarch 31, 2006.

Maruti, which has nearly half the passenger vehicle market, saidfull-year net profit rose 30 per cent to Rs 1,588.26 crore from Rs1,219.12 crore for the year ended March 31, 2006.

Its operating margins fell 12.4 per cent in the January-March quarter from 14.8 per cent a year earlier.

Sales of Maruti vehicles, including the best-selling Alto andSwift hatchback, rose 30 per cent to 2,00,112 units in the quarter.

The company raised prices on some models marginally in Februaryand again in March after the government imposed a one per cent tax.

The company recommended a final dividend of 90 per cent (Rs 4.50 per share) for the financial year 2006-07.

Maruti, competing mainly with South Korea's Hyundai Motor and TataMotors opened a new car plant in February with a capacity of up to3,00,000 units and a diesel engine and transmission plant with asimilar capacity.

It rolled out a diesel variant of Swift in February and willlaunch a new sedan in the April-June quarter and will also make a newmodel for European markets from the current fiscal and 50,000 compactcars a year for Nissan.

UNI