Wednesday, August 03, 2011
By Pranjal Gera
Maruti Suzuki India's net Profit Rose 18%
Automobile Giant Maruti Suzuki reported 18.02% net profit for the first quarter at Rs 549.23crores.
The company's net profit was of Rs 465.36 crores last financial year for the same quarter.
Total income during the quarter stood at Rs. 8,529.30crores as against Rs. 8,309.18crores in the same period previous year, an increase of 2.65%.
The company said that the Sales were diminished due to increase in fuel prices and higher interest rates.
The 13 days long strike in June at Manesar in Gurgaon was one of the most important reasons in the decline of the profit of Maruti with production losses pegged at Rs. 420 crores. The company is aiming to increase production in the remaining part of this year.