Maruti Suzuki’s Q1 net profit grows 18 percent

Maruti Suzuki registered net sales of Rs. 83,19 crore during the first quarter of 2011-12, a growth of 3.3 percent compared to the same period of the previous year.

Net profit during the quarter was Rs 5,49 crore, a growth of 18 per cent.

Higher commodity prices and foreign exchange volatility put pressure on margins as compared to the same period previous year. The market was sluggish, mainly due to a sharp increase in fuel prices and higher interest rates. The Company’s unit sales in the domestic market grew by 3.2 per cent during the Quarter.

During the quarter, the Company sold 250,683 units in the domestic market. Exports were at 30,843 units, against 40,437 units in the same period of the previous year.

Maruti Suzuki’s volume in the domestic A3 segment grew by 5.7 per cent, compared to sales in April-June 2010. The A2 segment was flat (up by 0.3 per cent), while in the C segment, sales volume grew by 21.6 per cent.