Maruti Suzuki records descent sales despite high input costs
Published On May 10, 2010 05:01 PM By Meenal
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Suzuki Motor Corp, Japan based leading car maker, has announced a small growth in its annual profit on Monday, as the almost blocked supply in India eased a bit, despite the rising input costs in its this high potential market of Suzuki.
Suzuki Motors forecasts an operating profit of 80 billion yen ($874 million) for the year ended on March 31st, 2010, as against 79.36 billion yen it made last year, that ended with a 0.8 percent increase in its sales. With this, the operating profit last quarter (January-March) was 29.5 billion yen, as against a profit of 10.45 billion yen an year earlier.
Many of Maruti Cars in India are best selling in their respective segments, including small cars like Maruti Alto and Wagon R, premium hatchbacks like Maruti Swift and entry level sedans like Maruti Swift Dzire. Maruti Suzuki recently expanded its manufacturing capacity in India to 1 million units a year with plans of increasing it by another 2.5 lakh units by April 2012.
Suzuki's shares dipped 18 percent in this financial year, and just before this announcement came to fore-front the company's shares closed at 1,858 units, up by 1.5 percent.
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