Maruti Udyog rechristened Maruti Suzuki; Sales up 35 percent

Maruti Udyog Ltd, the country’s largest carmaker, has been rechristened Maruti Suzuki India Ltd. Maruti’s board of directors have approved the name change, but this will come into effect only the when shareholders also give it a green card at the company’s annual general meeting.

In explaining the move, Maruti said in a statement that both Maruti and Suzuki reflect the strong brand name and brand position the two have in India and overseas markets respectively. Meanwhile, the incorporation of ‘India’ will identify the location of the company and its facilities along with recognizing the country’s growing importance across the world.

Meanwhile, Maruti surged ahead with its sales performance. The carmaker’s profits in the April-June 2007 quarter rose 35 percent to Rs 499.6 crore versus Rs 369 crore in the same quarter last year. The strong net profits came on the back of an increase in increase in total income (net of excise) at Rs 4,154 crore, up 27 percent over year before period.

Sales in the domestic market during the quarter stood at 1.6 lakh units, up 17 percent from the corresponding period last year. Including exports, Maruti’s sales were over 1.69 lakh units. The launch of the Swift diesel as well as the growing craze for the SZX boosted the carmaker’s sales in the quarter.