Maruti Suzuki Q3 net profit down by 17.8%

Sequentially, net profit in second quarter of current fiscal (July-September 2010) was higher at Rs 598.2 crore.

The profit was dragged down by rising input costs, adverse foreign exchange movement and higher royalty payout.

Net sales during the third quarter this fiscal, however, rose by 26.49 per cent at Rs 9,276.73 crore as against Rs 7,333.77 crore. “The third quarter this year compared to the same period last year was marked by pressure on margins primarily due to adverse foreign exchange movement and higher royalty payout,” the company said.

Increase in commodity costs during the quarter also impacted the margins, it added.

Exports during the quarter was down by 20.34 per cent to 31,160 units from 39,116 units in the same period last fiscal.

During the quarter under review, Maruti Suzuki’s domestic sales volume grew by 36.8 per cent to 299,527 units.

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