Maruti Suzuki India on Saturday reported an impressive increase in its net profit at Rs. 570 crore for the second quarter of 2009-10 against Rs. 296.12 crore in the same period a year ago. “During the quarter, we had good festival season sales and response to our new models was good. Moreover, we also saw robust exports,” Managing Director and Chief Executive Officer S. Nakanishi said here. Net sales grew by 47 per cent during the quarter ended September 30, 2009, at Rs. 7,049.58 crore against Rs. 4,806.26 crore in the same period last year.
Domestic sales grew by 22 per cent at 2.09 lakh units, while exports jumped to 37,105 units from 17,745 units in the year-ago period.
“The A-Star had good sales in Europe as we benefited from the scrappage scheme (incentives given on purchase of new cars for exchange of old cars). We are looking out for newer markets to keep exports momentum,” Mr. Nakanishi said. Talking about the first six months, he said the net profit stood at Rs.1,153.50 crore against Rs.761.97 crore in the same period a year ago, while net sales stood at Rs. 13,389.80 crore against Rs. 9,537.29 crore. The company is investing Rs. 150 crore to raise production capacity at its Gurgaon facility by up to 90,000 units by de-bottlenecking and modernisation.