Q1: Maruti Suzuki net profit up by 25 pc

Posted By: Staff
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New Delhi, Jul 24: India's largest car maker, Maruti Suzuki India, on Thursday, Jul 23 reported that its net profit jump by 25.26 pc in its first quarter ended Jun 30 2009.

The company posted a net profit of Rs 583.54 crore for the quarter as against Rs 465.85 crore in the Apr-Jun period in 2008. Net sales during the first quarter soared 34.01 pc to Rs 6,340.26 crore from Rs 4,731.03 crore in the year-ago period.

Ajay Seth, chief financial officer said, "Diesel car sales, which have gone up significantly by 66% over the same period last year, and export growth have given higher realisation."

On the outlook for the entire fiscal, Seth said, "We are cautiously optimistic for the rest of the fiscal. Cautious because of a deficient monsoon, which could significantly affect sales in the rural areas, which was increasing."

"Although there is no direct correlation between monsoon and rural sales, but it is mainly driven by a 'feel-good factor', and hence will definitely affect the sales," he added.

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