|Maruti Suzuki India Limited, India’s automobile market leader announced its financial results for the period ending December 2008, today.
In the nine-month period, April - December 2008, Maruti Suzuki registered Total Income from Operations (Net of Excise) of Rs 144196.2 million, a growth of 7.35 per cent over same period of previous fiscal.
During the period, Net Profit after tax stood at Rs 9755.4 million, down 31.93 per cent over April-December 2007.
October - December 2008 financial results
The company registered Total Income from Operations (Net of Excise) of Rs 46258.1 million during October - December 2008, a fall of 2.81 per cent compared to same period last year.
Net Profit during the quarter stood at Rs 2135.7 million, down 54.27 per cent over October - December 2007 quarter. The reduction in Net Profit has been mainly due to lower volumes, a rise in material costs and adverse impact of currency changes in the fiscal. In addition, a higher provision for depreciation, owing to more stringent depreciation norms adopted by the company in March 2008 brought down Net Profit.
The company’s sales during the period April 2008 to December 2008 was down by 1.26 per cent over the same period last fiscal. During the period, the company sold 555,529 vehicles, including 44,870 units of exports. A healthy growth in sales volumes during the period in A3 segment (52,700 units, up by 42.81 per cent) and MUV segment (5,374 units, up by 92.48 per cent) helped.
During the quarter October-December 2008, the company’s sales were 173,494 units, a drop of 14 per cent over same period last year.
During December 2008, the company achieved a record retail sale of over 76,700 units. This was the highest ever monthly retail sales in the company’s history.
The company’s premium compact car, A-star launched during the Q3 of the fiscal met with a good market response. Models like Swift and DZire continue to show strong sales despite economic slowdown conditions.