The Hindu : Business : Maruti third quarter net jumps to Rs. 240 crores

Online edition of India's National Newspaper
Tuesday, Jan 25, 2005

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Business

Maruti third quarter net jumps to Rs. 240 crores

By Our Special Correspondent

NEW DELHI, JAN. 24. Maruti Udyog today said that it recorded a 70.3 per cent growth in net profit at Rs. 239.66 crores for the third quarter ended December 31, 2004 in comparison to the same period in the previous fiscal.

Even as the total income of the company (net of excise) rose 26.9 per cent to Rs. 3,016.47 crores during October-December 2004-05 against the income during the same period last year, the growth in net profit for the third quarter this fiscal has been achieved despite an increase in the price of steel and other raw materials.

An official statement said that cost reduction initiatives, including value analysis and value engineering helped to maintain growth and The net profit for the nine-month period (April-December 2004-05) jumped 54.3 per cent to Rs. 594.18 crores from Rs. 385.08 crores.

In fact, the net profit in the first nine months is more than the net profit for the entire 2003-04 fiscal. Total income (net of excise) during the nine month period grew 24.5 per cent to Rs. 8,422.72 crores from Rs. 6,765.23 crores.

It sold a total of 3.89 lakh cars during the nine months as compared to 3.28 lakh units, a growth of 19 per cent. A total of 37,958 vehicles were exported registering a growth of 8.3 per cent over the same period in the previous year. In the A3 segment, Maruti registered a record growth of over 107 per cent against the industry growth of about 35 per cent. Similarly, in the A2 segment, while the industry has grown 38.5 per cent, Maruti has grown 67 per cent during April-December 2004.

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