Maruti Suzuki Q1 net up 25 per cent at Rs584 crore

Maruti Suzuki, the country's top carmaker, today reported a net profit of Rs583.5 crore for the first quarter of the financial year 2009-10 (April-June) against Rs465.9 crore during the same period of the previous fiscal year - a growth of 25.3 per cent.

The company posted net sales of Rs6,340 crore during the first quarter of 2009-10, a growth of 34 per cent from the same period of the previous financial year.

Total sales rose of 226,729 units, representing 17.7 per cent growth during the first quarter of 2009-10. This included export of a record 29,314 units, representing a 134.7 per cent growth over the same period of the last fiscal.

During the quarter, the company achieved strong volume growth in the domestic as well as export markets. "The positive response to new models and continued focus on tapping new market segments enabled the company to achieve near double digit volume growth and enhanced market share," Maruti Suzuki said in a release.

Maruti Suzuki said the strong growth in exports of its A-star to Europe was also aided by scrappage incentives offered by governments in Europe.
A-star's cumulative exports crossed 45,000-unit mark in June 2009. The A-star has received overwhelming customer response in European markets such as Germany, the United Kingdom, the Netherlands, France and Belgium.

Domestic sales volume grew by 9.6 per cent to 197,415 units, led by new models A-star and Ritz as well as Alto, Swift, Swift DZire and WagonR.