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Maruti Q4 net zooms 80% on Ertiga, Swift demand

India’s largest car maker Maruti Suzuki on Friday beat market estimates by a mile by posting a 80% year-on-year rise in net profit to Rs.1,148 crore during the last quarter of 2012-13, benefiting from robust sales of its Ertiga, the first utility vehicle in the country, HT reports.

India's largest car maker Maruti Suzuki on Friday beat market estimates by a mile by posting a 80% year-on-year rise in net profit to 1,148 crore during the last quarter of 2012-13, benefiting from robust sales of its Swift hatchback and Dzire sedan as well as the Ertiga, the first utility vehicle in the country.

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The profit figures boosted the company's share price by 5.3% to 1,674 on the Bombay Stock Exchange.

The company had posted a net profit of 640 crore a year-ago.

Analysts had forecast a net profit of 722 crore during the fourth quarter.

Net sales during the quarter grew 9.4% to 12,567 crore.

For the entire 2012-13 fiscal, the company posted a 40.7% rise in standalone net profit to 2,300 crore against 1,635 crore in the previous fiscal.

Standalone net sales went up 21.4% to R42,123 crore in 2012-13 from 34,706 crore in 2011-12.

"The last financial year was a challenging one for the domestic passenger vehicle industry but we managed to grow by 4.4% and improve our marketshare by 1% point thanks to demand for our new models like Swift, Dzire and Ertiga," said Shinjo Nakanishi, director, MSIL.

"The small car segment declined by 13% during the year while utility vehicle share went up to 21% but it is not that the market has shifted from small to big cars but just that the small car buyers are not buying at all."

  • First Published Date : 26 Apr 2013, 02:34 PM IST