Maruti Suzuki Q2 net rises to Rs598.2 crore as sales zoom

Maruti Suzuki India Limited today reported a five per cent year-on-year increase in its fiscal second quarter (July-September 2010) net profit to Rs598.2 crore. This also represented a 28.5 per cent sequential increase from the net profit of the first quarter of the current financial year.

The company recorded a 26.8 per cent year-on-year increase in net sales (net of excise) of Rs8,937.1 crore during the second quarter of 2010-11. Second quarter sales was also up 11 per cent from the net sales in the first quarter of the current fiscal (April-June 2010)

During the quarter (July-Sept 2010), the company achieved its highest-ever domestic sales in a quarter at 2,77,936 units, a growth of 32.9 per cent over the same period last year even as domestic auto industry as a whole continued to witness strong volume growth.

The quarter also saw Maruti Suzuki launch the Alto K10 as also factory-fitted CNG versions of Alto, Estilo, WagonR, Eeco and SX4. It also launched an automatic version of the A-star.

Domestic sales volume in the A2 segment grew 30 per cent year-on-year while in the A3 segment sales volume grew 29.2 per cent.

Sales in the C segment, comprising Omni and Eeco, grew 87.4 per cent. At the end of the quarter, sales network stood at 860 outlets, covering 598 cities (end-Mar'10: 802 outlets, 555 cities).

Service network stood at 2,819 workshops, covering 1,354 cities (end-Mar'10: 2,740 workshops, 1,335 cities).