Maruti Q4 net profit jumps by 170%

Annual sales cross 1 m mark

 The total income during fourth quarter increased by 30 per cent to Rs 8,503.52 crore from Rs 6,538.34 crore in the same period previous fiscal.

Milestone achievement
Maruti also posted an over two-fold jump in consolidated net profit for financial year 2009-10 at Rs 2,624.64 crore. The fiscal 2009-10 also witnessed Maruti adding a feather in its cap by as its sales crossed a million cars in a single financial year. It sold 10,18,365 units in 2009-10, which was 29 per cent higher than 7,92,167 units in the previous fiscal, the company said. Displaying impressive financial results the country’s largest car maker—now owned and managed by Japanese auto major Suzuki—posted 42.27 per cent growth in its consolidated total income during 2009-10 at Rs 30,122.51 crore as against Rs 21,172.20 crore in the previous fiscal. With larger profit Maruti paid a dividend of 120 per cent per share resulting in a total outgo of Rs 173.35 crore.
“Though profit in the quarter increased on low base of last year, it was impacted to some extent by the cost of upgradation of company’s full range of cars to Bharat Stage—IV emission norms, cost of new model launches, higher raw material prices and adverse foreign exchange movement,” Maruti said. In 2009-10 the company exported 1,47,575 cars.

Export market
Countries contributing to exports included United Kingdom, France, Germany, Italy and Netherlands in Europe, and Algeria, Chile, Indonesia and Australia in non Europe. Maruti said it had  new export markets such as South Africa, Hong Kong and Norway during 2009-10 in its export basket.
DH News Service