Maruti Q2 net dips 36.5 pc at Rs 296 crores

New Delhi, Oct 24: On account of rising input costs and rupee depreciation, country's biggest carmaker Maruti Suzuki India Ltd (MSIL) on Friday, Oct 24 reported a decline of 36.52 per cent in its net profit at Rs 296.10 crore for the second quarter ended September 30, compared to Rs 466.50 crore during the corresponding period last year.

The company's total income, however, surged nearly seven per cent to Rs 5,089.66 crore in Q2FY09 from Rs 4,757.29 crore in Q2FY08.

Also, its net sales went up to Rs 4806.30 crore in the said period from Rs 4529.70 crore in the year-ago period, a 6.10 increase.

MSIL's net profit for first half of the current fiscal dipped 21.12 per cent to Rs 762 crore, compared to Rs 966.10 crore in the same period last year.

However, its net sales for H1FY09 was Rs 9537.30 crore, which is a 13 per cent increase over year-ago period.

The company's total sales during April-September 2008 stood at 3,82,035 units, whereas it was 3,60,994 units in the same period last year, reflecting a growth of 5.8 per cent.

In the domestic market, Maruti Suzuki sold 3,51,799 units in H1FY09 against 3,36,758 units the previous year in H1FY08, a 4.5 per cent increase.

The company, which will launch its premium compact car-- A Star--next month in the Indian market, increased its total production capacity to one million units at the Gurgaon and Manesar manufacturing facilities.

UNI