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Maruti net beats expectations in Q3 (Live mint.com 30th Jan 2008)The country’s largest car maker, Maruti Suzuki India Ltd, said net profit for the third quarter (Q3) ended December rose by a better-than-expected 24% from a year ago, as it sold more premium cars such as the SX4 sedan and the Swift compact car.
Analysts expect growth next quarter to slow because the Reserve Bank of India left key interest rates unchanged, keeping car loans expensive. As a result, Maruti may have to spend more on rebates to ensure sales growth.
Maruti’s Q3 net profit increased to Rs467.04 crore from Rs376.41crore a year ago. The increase was better than the Rs461.2 crore average estimated by five analysts polled before the results.
Sales rose 27% to Rs4,654 crore in the quarter, as customers bought more of recently introduced models such as the SX4 sedan and the Zen Estilo. In the same period in the previous year, the revenue was Rs3,664.19 crore. More
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