Maruti Suzuki Q1 net slips 6.7% at Rs 465.85 cr

New Delhi, Jul 21 (UNI) Country's leading passenger car manufacturer, Maruti Suzuki's net profit slipped 6.7 per cent to Rs 465.85 crore for the quarter ended June 30, 2008 as compared to Rs 499.60 crore amidst rising input costs and inflationary pressures.

The company's total income however, surged 22.3 per cent to Rs 5082.36 crore for the quarter ended June 30, 2008 from Rs 4154.07 crore in the corresponding period previous year.

The high cost of raw materials such as steel have hit margins, while firm interest rates, rising inflation and a fuel price hike have dented demand in the country.

The company is also facing more competition from rivals such as Hyundai Motors, General Motors and Fiat in a market that is forecast to record two million units in passenger vehicle sales by 2010.

UNI PDT AK KN1852