Maruti Suzuki India Ltd. (MSI) has announced its financial results for the period April-December 2008, during which the company registered a total income from operations (net of excise) of Rs 144,196.2 million, a growth of 7.35% over the year-ago period. Net profit after tax stood at Rs 9,755.4 million, down 31.93% over April-December 2007.
Between October-December 2008, Maruti registered a total income from operations (net of excise) of Rs 46,258.1 million, a decline of of 2.81% compared to the year-ago period. Net profit during the quarter stood at Rs 2,135.7 million, down 54.27% October-December 2007.
The reduction in net profit was mainly due to lower volumes, a rise in material costs and adverse impact of currency changes in the fiscal...Read More