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Maruti's Q4 net profit down three pc
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SME Times News Bureau | 30 Apr, 2012
Passenger car major Maruti Suzuki Saturday reported a decline of three
percent in its net profit which stood at Rs.639.8 crore for the fourth
quarter of 2011-12 and also said its total diesel engine production will
reach four lakh this year.
The company had posted Rs.659.9 crore net profit in the corresponding quarter of 2010-11.
Maruti
Suzuki's net sales stood at Rs.11,486.4 crore in the quarter under
review, up 17.2 percent from Rs.9,796.7 crore posted in the fourth
quarter of 2010-11.
The automobile major's sales went up by 4.9
percent at 360,334 units in the January-March 2012 quarter from 343,340
units sold in the corresponding period of 2010-11.
The company
said that adverse currency movements had made a significant impact
during the quarter under review and said this was largely offset through
localisation and internal cost control.
"There appers to be some
stability in currency rates and with some efforts to hedge Maruti
Suzuki direct and vendors Yen import, we hope to limit the impact of the
Yen," said Shinzo Nakanishi, managing director and chief executive,
Maruti Suzuki.
"We will also try to improve our margins from the
current levels with economy of scale, cost reduction measures and better
price realisation. The Indian market is rapidly becoming diesel vehicle
market, we will have to come out with a strategy to increase production
and reduce risk on diesel engine supply."
Nakanishi added that the company's total diesel engine production will reach four lakh in this year.
The
company added that it will take certain steps to arrest the drop in the
petrol car sales like identifying customers who are not affected by
petrol price hike and aggressively pushing for an exchange scheme for
old petrol cars.
"It is certainly harder to sell a petrol car,
because of the skew towards diesel cars. We have increased our dealers
margins as it has become harder for selling petrol cars and we will
initiate certain ways to increase sales of petrol cars," said Mayank
Pareek, chief general manager, marketing, Maruti Suzuki.
For the
full fiscal 2011-12, the company reported a decline of 28.6 percent at
Rs.1,635.1 crore from Rs.2,288.7 crore for 2010-11.
The company's
board has recommended a final dividend aggregating to Rs.216.68 crore,
which comes down to Rs.7.5 per share (for nominal value of Rs.5.00 per
share).
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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