Maruti Suzuki India 2011- Higher other income boosts Maruti Suzuki Q1 net up 18% YoY
Maruti Suzuki India 2011- Higher other income boosts Maruti Suzuki Q1 net up 18% YoY
Maruti Suzuki India beat street expectations as first quarter net profit rose 18% year-on-year to Rs 549.2 crore as a higher other income offset pressures from sluggish sales and increased input costs.
Net sales of India’s largest passenger car maker were up just 3.3% over the three-month period to Rs 8,319.9 crore.
Analysts on average had expected Maruti Suzuki to report a net profit of Rs 438 crore on revenue of Rs 8,300 crore.
Maruti Suzuki’s shares rose following the announcement in afternoon trade and were trading up about 0.5% at Rs 1,183 on NSE.
During the April-June quarter, Maruti Suzuki’s other income surged 79% year-on-year to Rs 180.07 crore, which boosted overall profit.
However, higher commodity prices and foreign exchange volatility put pressure on margins, the company said.
Its raw material costs during the quarter rose 7% year-on-year to Rs 6,502.35 lakh. Expenses towards purchase of traded goods were up 24% to Rs 342.10 crore.
Maruti Suzuki’s total vehicle sales in the first quarter fell 0.6% to 2,81,526 units. While its domestic sales rose 3.3% year-on-year to 2,50,683 units, exports declined 23.7% from a year ago to 30,843 units.
"The market was sluggish mainly due to a sharp increase in fuel prices and higher interest rates," it said.
Automobile sales in India have slowed down sharply in the last few month as consumers postponed purchases due to the price hikes taken by vehicle makers, coupled with rise in auto loan rates and fuel prices.
Maruti's sales were also affected due to the strike at its Manesar plant, which hurt production of some of its models for 10 days.
copied from :- www.moneycontrol.com
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| Maruti Suzuki Q1 |
Net sales of India’s largest passenger car maker were up just 3.3% over the three-month period to Rs 8,319.9 crore.
Analysts on average had expected Maruti Suzuki to report a net profit of Rs 438 crore on revenue of Rs 8,300 crore.
Maruti Suzuki’s shares rose following the announcement in afternoon trade and were trading up about 0.5% at Rs 1,183 on NSE.
During the April-June quarter, Maruti Suzuki’s other income surged 79% year-on-year to Rs 180.07 crore, which boosted overall profit.
However, higher commodity prices and foreign exchange volatility put pressure on margins, the company said.
Its raw material costs during the quarter rose 7% year-on-year to Rs 6,502.35 lakh. Expenses towards purchase of traded goods were up 24% to Rs 342.10 crore.
Maruti Suzuki’s total vehicle sales in the first quarter fell 0.6% to 2,81,526 units. While its domestic sales rose 3.3% year-on-year to 2,50,683 units, exports declined 23.7% from a year ago to 30,843 units.
"The market was sluggish mainly due to a sharp increase in fuel prices and higher interest rates," it said.
Automobile sales in India have slowed down sharply in the last few month as consumers postponed purchases due to the price hikes taken by vehicle makers, coupled with rise in auto loan rates and fuel prices.
Maruti's sales were also affected due to the strike at its Manesar plant, which hurt production of some of its models for 10 days.
copied from :- www.moneycontrol.com
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