At a time when the auto industry fears the imminent arrest on vehicle sales growth, the largest car manufacturer in India, Maruti Suzuki recently reported marginal increase in their net profit for the fourth quarter ended March 31, this year. One of India’s oldest auto companies, Maruti saw a slight profit of Rs 659.86 crore.
In the same fourth quarter for the fiscal year 2009-10, Maruti had reportedly posted a Rs 656.55 crore net profit. The overall income during fourth quarter of last fiscal year from operations saw an increase of Rs 10,092.18 crore to 18.93 per cent. This was in comparison to Rs 8,485.83 crore of the same period in the previous fiscal year.
During this quarter, the overall auto sales of the company were at 3,43,340 vehicles sold in comparison to the 2,87,422 vehicles sold in the same period a year ago. This is a sizeable increase of 19.46 per cent. Also reported was the fact that in the entire fiscal year of 2010-11, Maruti’s combined overall profit saw a decrease of 9.23 per cent from Rs 2,624.64 crore in the 2010 fiscal year to Rs 2,382.37 crore.
The combined income in the last fiscal year from operations increased to Rs 37,578.48 crore to 24.75 per cent, compared to Rs 30,122.51 crore in the fiscal year 2009-10. The report also stated that according to Maruti, they sold a 12,71,0005 vehicles in all for the fiscal year 2011 in comparison to the 10,18,365 vehicles sold in the earlier fiscal year, an increase of 24.81 per cent.
Maruti’s exports for this fiscal year have fallen by around 6 per cent. This is because of the indefinite economic conditions in Europe. However the crisis in Japan, has not had an effect on the operations of the company.