Monday, January 23, 2012
By Manoj Kumawat
Maruti Suzuki net sales decline in quarter 3
The third quarter financial report of the leading auto manufacturer ‘Maruti Suzuki India Limited’ (MSIL) has seen a downfall of 17.4 per cent with the Net Sales (net of excise) of Rs.76, 636 million, approved by the company’s Board of Directors. The changed dynamics of the company’s growth graph for the third quarter i.e. October to December (2011-12 Vs 2010-11) has disappointed the authorities.
During this quarter, Maruti Suzuki has submitted the net profit of Rs.2, 056 million watching the decline of 63.3 per cent. There is a significant decline in the company’s domestic sales as well with 211, 803 units against the 299, 527 units for the same duration in previous year. In overseas market Maruti Suzuki has sold the total 27, 725 units, which was 31, 169 units in the last year.
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The constantly increasing fuel price, interest rates and inflammation have adversely affected the quarterly sales figures of the company. The Manesar plant strike also bagged the production loss of around 40, 000 units, occurred due to some industrial relations issues. Company has got failed to manage a balance between falling value of Indian currency and the higher import duties, the vendors and royalty.
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In order to boost-up the growth, company is all prepared to buzz the Indian marketplace with the launch of all new Maruti Swift Dzire CS and Maruti Ertiga. For the second quarter i.e. April to December (2011-12 Vs 2010-11), Maruti Suzuki has reported the Net Sales of Rs. 235, 210 million with the turn-down of 10.4 per cent against the same duration of the previous year.
The net profit has figured-out around Rs.9, 953 million, turn down of 38.9 per cent. In domestic market, company has sold the 684, 892 units, which was 820, 350 units in last year. While the company has registered the sales of 88, 469 units in export.