Maruti Q1 net rises 32.5 pc

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Our Bureau

New Delhi, July 25

MARUTI Udyog Ltd (MUL) has posted 32.5 per cent increase in net profit to Rs 226.46 crore during the first quarter ended June 30, even as the company's total income (net of excise) grew only 6.1 per cent to Rs 2,725.37 crore.

During the first quarter, the profit before tax was at Rs 335.59 crore, up 25.6 per cent over the corresponding period last year, the company said in a statement, while announcing the unaudited first quarter results for 2005-06.

In the first quarter, the overall vehicle sales of Maruti fell 1.4 per cent to 1,21,866 units, after tighter emission norms and value added tax regime came into force. This resulted in increased product prices.

The company sold 1,14,972 vehicles in the domestic market, a growth of 3.2 per cent over the same period last year. However, its exports slumped by about 44 per cent to 6,893 units (12,240 units).

During the first quarter, the company has seen a fall in the sales of the M800 model. However, sales of its models in the compact car segment (Wagon R, Zen, Alto and the newly launched Swift) have been witnessing a healthy growth.

Analysts said the decline in exports would not have impacted the profitability of the company much as the value of their contribution is relatively less to the sales in the domestic market.

On the Bombay Stock Exchange, the Maruti scrip closed Rs 2.90 higher at Rs 464.65 on Monday.

(This article was published in the Business Line print edition dated July 26, 2005)
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