Maruti Suzuki Q1 net at Rs 466 cr

The country's largest car maker Maruti Suzuki on Monday reported a net profit of Rs 465.9 crore (Rs 4.65 billion) in the first quarter of 2008-09, against Rs 499.6 crore (Rs 4.99 billion) during the same period of the last fiscal year.

The company, however, said the figures were not comparable owing to the additional impact of Rs 61.9 crore (Rs Rs 619 million) resulting from the new depreciation policy introduced in the fourth quarter of fiscal 2008.

The net sales stood at Rs 4,731 crore (Rs 47.31 billion) in the first quarter of the fiscal, a growth of 20.9 per cent over the same period of the previous year.

The total sales during the quarter grew by 13.5 per cent at 1,92,584 units during the quarter. Domestic sales grew by 12.1 per cent, led by Swift, Swift DZire and WagonR, at 180,093 units during the quarter, it said.

The company exported 12,491 units in the first quarter of 2008-09, against 9,065 units in the first quarter of the previous year, a growth of 37.8 per cent. During the quarter the company had launched Maruti 800 Duo (LPG variant).