Maruti Suzuki India Limited has reported a fall in its net profiles by a steep 38.9% from the period of April to December 2011 compared to the same period in year 2010. There has been a drop in domestic sales by about 16% in this period constituting a sales about 6.85 Lakh of cars comparing to 8.2 lakh cars sold in same period in 2010. The Company registered Net Sales (net of excise) of Rs. 235, 210 Million, a decline of 10.4 per cent over same period in the previous year.
Maruti Suzuki India Q3 Report
The Company registered Net Sales (net of excise) of Rs. 76,636 Million, a decline of 17.4 per cent over same period in the previous year. Net Profit during the quarter stood at Rs 2,056 Million, a fall of 63.6 per cent. During the Quarter, the Company sold 211, 803 units in the domestic market as compared to 299, 527 units same period previous year.. In exports, the Company sold 27, 725 units against 31,160 units in the previous year.
Unit sales in the Quarter were impacted by sluggish market conditions caused by higher fuel prices and interest rates. Additionally, the Company lost around 40,000 units in production due to the industrial relations problem at Manesar. The depreciation of the Rupee during the Quarter adversely impacted the bottom-line through higher cost of imports for the Company and its vendors and royalty.
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