The country's largest carmaker Maruti Suzuki India today reported a marginal rise in its net profit for the quarter ended March 31, 2011, at Rs 659.86 crore.
The company had posted a net profit of Rs 656.55 crore in the corresponding quarter of 2009-10 fiscal, Maruti Suzuki India (MSI) said in a statement.
The total income from operations during the fourth quarter of the last fiscal increased by 18.93% to Rs 10,092.18 crore from Rs 8,485.83 crore in the same period previous fiscal, it added.
During the quarter, the company's total automobile sales stood at 3,43,340 units compared to 2,87,422 units in the year-ago period, up 19.46%.
For the entire 2010-11 financial year, MSI's consolidated net profit declined by 9.23% to Rs 2,382.37 crore from Rs 2,624.64 crore in FY10.
The consolidated total income from operations during last fiscal went up by 24.75% to Rs 37,578.48 crore from Rs 30,122.51 crore in 2009-10.
MSI sold a total of 12,71,005 vehicles in FY11 as against 10,18,365 units in the previous fiscal, up 24.81%.
The company's board also recommended a dividend of 150%, which is Rs 7.50 per share of the face value of Rs 5 for 2010-11.
The exports for the year haven fallen by 6%, affected by the uncertain economic conditions of Europe and that the Japan crisis has not quite affected the company's operations.
It also told a television channel that the domestic market growth has been driven by the consumer confidence in the company. It added that the company has had a market share hike to due to the strong product portfolio addition with the launch of new models in the market.
It said that the mileage of the car remains a key parameter in the car selection for consumers.
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The company says the FY11 profits have been hit by adverse currency movement.
Reacting to the results, the shares of the company were trading 1.48% up at Rs 1,326 a piece on the Bombay Stock Exchange during late-afternoon.