Maruti Suzuki Q3, 2010-11 financial results declared

Maruti Suzuki India recently disclosed the company's financial results for the third quarter sales (October to December 2010-11) in the fiscal year. Maruti Suzuki for the Q3 registered Rs 92,767 million Net Sales (net of Excise). It has registered the growth of 26.5 per cent when compared with the same period in 2009.

Maruti suzuki the leaders in India for the 2nd quarter (July- September 2010) registered sales of Rs 89,371 million.

The third quarter net profit of the Indian auto company stood at Rs 5,652 million. For 2009-10 Q3 Net Profit was registered at  Rs 6,875 million. For 2010-11, July to September Net Profit was calculated to be Rs 5,982 million.

The shrinking net profit margins for the Q3 for 2010-11 when compared with the last years net profit can be justified with few uncontrollable reasons such as fluctuating foreign currency, higher royalty payout, increasing raw material and production cost have greatly impacted the profits.

For the third quarter 2010, Indian czar's national sales rose to 36.8 per cent by selling 299,527 car models. The increasing sales is accredited to the winning cars from the auto company such as Maruti Alto, Maruti Wagon R and Maruti Swift. For two consecutive months, Maruti crossed the milestone of 1 lakh car sales. Maruti Suzuki witnessed company's highest ever sales in India by rolling out 107,555 cars in the festive month of October 2010. In November 2010, the sales of Maruti India was 102,503 units, again crossing the one lakh landmark which has not been achieved in the domestic auto market so far by any auto company in India.

In the third quarter, all the car models offered by the Indian auto company achieved accelerating sales. In A2 segment, Maruti accounted to 35.3 per cent, in A3 segment the company registered a growth of 26.4 per cent; the stats have been acquired after comparing the sales figures of the last years Q3 sales. However, a very interesting observation was made that the C segment, in which the auto company offers Maruti Omni and Maruti Eeco raised to 78.5 per cent

Maruti Suzuki's sales network by the end of this quarter was 889 dealerships in 631 cities across India when compared with 2009-10's 802 outlets in 555 cities. The service network also observed an increase for 2010. There are currently 2,879 workshops spread in 1,373 cities in India over the last year's 2,740 outlets across 1,335 cities.

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