Maruti Suzuki India Limited (MSIL) has reported a 54.27 per cent fall in its third quarter (Oct-Dec 2008) net profit. This is for the third consecutive quarter this financial year that Maruti’s net profit has dipped, having gone down from Rs.467.04 crore in the October to December period in 2007 to Rs.213.57 in 2008. The company ascribed the decline to a change in its depreciation policy introduced in April 2008, a rise in material (input) costs and an adverse impact of currency changes in the current fiscal.
MSIL’s domestic sales in the third quarter fell by about 15 per cent. Its overseas sales, however, rose significantly. Also, December 2008 was a good month for the company in terms of overall sales, which increased with the successful launch of its premium hatchback, the Maruti A-Star and the growing sales of the SX4 and the Swift DZire.
Soruce: DriveInside.com
MSIL’s domestic sales in the third quarter fell by about 15 per cent. Its overseas sales, however, rose significantly. Also, December 2008 was a good month for the company in terms of overall sales, which increased with the successful launch of its premium hatchback, the Maruti A-Star and the growing sales of the SX4 and the Swift DZire.
Soruce: DriveInside.com
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