Passenger car manufacturer Maruti Udyog Ltd reported a 39.5 per cent rise in net profit to Rs 367.4 crore in the second quarter of the current fiscal, up from Rs 263 crore in the same quarter last year. Sales in the quarter rose 12.5 per cent to Rs 3,541 crore from Rs 3,147 crore.
The company's domestic sales during Q2 (July-Sept 2006) grew 16.2 per cent over the same period last fiscal. Total sales increased by 12 per cent to 1,57,683 vehicles (including 8,165 units of exports).
According to analysts, despite cost pressures, the company has been witnessing higher realisations as sales of models such as the Swift and the new WagonR have been healthy, giving better margins.
The operating profit margin in the quarter was at 13.9 per cent versus 11.1 per cent. Further, Maruti's other income (from its pre-owned car sales, fleet management and car financing businesses) was up at Rs 121.7 crore as against Rs 109 crore in the same quarter last year.
The company's total income in the first half of the fiscal (April-September 2006) was Rs 6,809.6 crore, a growth of 16 per cent compared to Rs 5,870 crore in the same period of the previous year. Net profit in the period stood at Rs 737 crore, up 50.68 per cent.
During the first half of this year, Maruti's sales grew by 18 per cent in the domestic car market.
Meanwhile, talking to the media, Mr Jagdish Khattar, Maruti Managing Director, said the company would be reviewing prices of its cars in December, which could come into effect in January.
The company's stock price closed at Rs 951.05 on the Bombay Stock Exchange today up 0.49 per cent over the previous day's closing.
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