New Delhi: The country's largest car maker Maruti Suzuki India on Tuesday reported 5.41 per cent decrease in net profit at Rs 227.45 crore for the quarter ended September 30 due to lower sales, mainly of petrol models. The average discounts on the models, especially petrol run, were all-time high during the July-September quarter.
The company had posted a net profit of Rs 240.45 crore in the corresponding period in 2011, Maruti Suzuki India (MSI) said in a statement. The net sales during the second quarter of this fiscal, however, went up by 8.53 per cent to Rs 8,070.11 crore, from Rs 7,435.85 crore in the year-ago period, it added. In the July-September period, vehicle sales of MSI fell by 8.69 per cent to 2,30,376 units, from 2,52,307 units in the same period in 2011.
Out of this, the company sold 2,09,954 units in the domestic market compared to 2,22,406 units in the same period previous year. It also exported 20,422 units as against 29,901 units in last year, the statement said.
Commenting on the numbers, MSI said: "The market showed a marked preference for diesel cars, while demand for petrol vehicles dropped sharply... The bottomline has also been impacted by lower non operating income during the quarter."...more
04:48 PM, Oct 30, 2012