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Maruti Q3 net dips 54% at Rs 213.57 cr

 The country's largest car maker Maruti Suzuki on Wednesday reported a 54.27 per cent dip in its net profit at Rs 213.57 crore for the December quarter. The auto major had a net profit of Rs 467.04 crore in the December quarter of FY'08, Maruti Su zuki said in a filing to the Bombay Stock Exchange.

“The reduction in net profit has been mainly due to lower volumes, a rise in material costs and adverse impact of currency changes in the fiscal,” Maruti said in the statement. Also, a higher provision for depreciation has impacted the company's bottomli ne, it added.

The total income declined nearly three per cent to Rs 4,625.81 crore during the quarter under review, from Rs 4,759.43 crore in the same period last fiscal. During the October-December quarter, the company's sales stood at 1,73,494 units, down 14 per ce nt over last fiscal.

During the nine months ended December 2008, Maruti posted a 32 per cent dip in net profit at Rs 975.54 crore, while it was Rs 1,433.14 crore in the year-ago period. The total income stood at Rs 14,419.62 crore during the nine-month period, while it was a t Rs 13,432.65 crore in the year-ago period.
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