Car manufacturer Maruti Suzuki India on Thursday reported net profit of Rs 297.7 crore for the fourth quarter ended December 2008. Although the company's net profit in the corresponding quarter the previous fiscal stood at Rs 448.6 crore, it said the figures were not comparable due to the adoption of a new depreciation policy, which has shortened cycles for its equipment and tooling assets.
Total income, net of excise stood at Rs 5,069.9 crore during the quarter, it said. For the fiscal 2007-08, net profit stood at Rs 1,730.8 crore, while the total income for the fiscal stood at Rs 18,823.8 crore.
Under the new policy adopted by the company, the full depreciation for equipment and tooling assets will now be eight years instead of 13 years previously.
Total income, net of excise stood at Rs 5,069.9 crore during the quarter, it said. For the fiscal 2007-08, net profit stood at Rs 1,730.8 crore, while the total income for the fiscal stood at Rs 18,823.8 crore.
Under the new policy adopted by the company, the full depreciation for equipment and tooling assets will now be eight years instead of 13 years previously.
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