Strike-hit Maruti Suzuki's Q2 net down 5.4%

Maruti Suzuki on Tuesday reported a 5.4% year-on-year decline in its net profit for the July-September quarter as a month-long lockout at its Manesar
...
Strike-hit Maruti Suzuki's Q2 net down 5.4%
Strike-hit Maruti Suzuki's Q2 net down 5.4%

India's largest car maker Maruti Suzuki India Ltd on Tuesday reported a 5.4% year-on-year decline in its net profit for the July-September quarter, its fifth straight quarterly decline, as a month-long lockout at its Manesar factories, lower demand for its petrol cars and adverse foreign exchange fluctuation ate into the firm's profitability.

Maruti reported a net profit of 227.45 crore against 240.45 crore in the same quarter last year.

Its net sales, however, went up by 8.53% to 8,070.11 crore on the back of a robust demand for its maiden utility vehicle Ertiga and better export realisation.

Trending Cars

Find more Cars

Maruti's vehicle sales during the quarter fell by 8.7% to 230,376 units.

Its loss due to adverse foreign exchange movement was pegged at 350 crore for the quarter.

'The demand for petrol cars remained sluggish during the quarter and we had to sustain our momentum through discounts,' said Shinjo Nakanishi, MD and CEO, MSIL.

'There was a 20% de-growth in petrol cars sales while diesel cars grew by 40%.'

The company gave an optimistic outlook for the rest of the year indicating that there were signs of a revival in consumer sentiment.

First Published Date: 30 Oct 2012, 20:24 PM IST
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy
Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.