Maruti Q3 Net jumps 3-fold to Rs 687 cr; to invest Rs 1,700 cr
Boosted by robust sales, India's largest car maker Maruti Suzuki India on Friday reported over three-fold jump in its net profit at Rs 687.53 crore for the third quarter ended December 31, 2009.business Updated: Jan 23, 2010 15:08 IST
Boosted by robust sales, India's largest car maker Maruti Suzuki India on Friday reported over three-fold jump in its net profit at Rs 687.53 crore for the third quarter ended December 31, 2009.
The company posted a net sales of Rs 7,333.77 crore for the December quarter, up by 62.51 per cent from Rs 4,512.64 crore in the same period previous fiscal, Maruti Suzuki said in a filing to the Bombay Stock Exchange.
The company will also invest Rs 1,700 crore to expand its capacity by 2.5 lakh units annually.
"In the October-December quarter 2009 favourable conditions in the domestic markets supported by the government's stimulus package and ease of automobile finance helped (the company) achieve good sales," it said.
The company sold 2.58 lakh units in the Q3, up 48.72 per cent from 1.73 lakh units it sold in the same quarter ended December 2008.
During the quarter exports led by the A-star continued to be strong.
On its expansion plan the company said it will invest Rs 1,700 crore to expand its capacity and the additional capacity will begin commercial production by 2012.
The company currently has a capacity to produce a million units annually from its existing facilities — seven lakh at Gurgoan and three lakh at Manesar.