Maruti reverses projections; posts profits

Published: Tuesday, July 26, 2011, 18:30 [IST]

Maruti Suzuki, India's largest carmaker thwarted projections and posted a 18 per cent increase in net profits for the first quarter of this year ending June. Maruti's net profit for Q1 stood at Rs.549.23 crores as against the Rs.465.36 crores posted by the company in the first quarter of the previous year.

Maruti Suzuki said its net sales for the quarter stood at Rs.8,319 crore while total income increased to Rs.8,709.37 crore. The carmaker's sales in the first quarter rose just 3.2 per cent due to increased fuel prices. Maruti Suzuki's domestic sales stood at 2,50, 683 units while exports declined sharply from 40,437 units to 30,843 units.

The A2 segment which is dominated by Maruti Suzuki remained a flat sector with a growth rate of just 0.3 per cent while the A3 segment grew by 5.7 per cent. The sector that saw the highest increase in sales was the C segment with a 21.6 per cent increase.

Maruti Suzuki's first quarter results are sign that the carmaker is coping well with the slow down in the car market. It can expect a further improvement in sales following the launch of the new Swift hatchback.

Article Published On: Tuesday, July 26, 2011, 13:52 [IST]

Read more on: #maruti suzuki #sales #swift

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