> Maruti net up 40% at Rs 367 cr

Maruti Udyog has reported a net profit of Rs 367.4 crore for the quarter ended September 30, ’06, up 39.9% from a net profit of Rs 262.6 crore in the corresponding period last year. The company’s total income (net of excise) in this quarter was up 12.5% to Rs 3540.8 crore from Rs 3146.8 crore.

In this quarter, the company’s EBIDTA margins have grown by 240 basis points to 17.6% from 15.2% in the corresponding period last year.

“Industry margins are taking a hit due to increase in raw material prices, yet we are working towards negotiating the impact of prices on our margins,” said Jagdish Khattar, managing director, Maruti Udyog.

The company’s domestic sales in this quarter grew to over 1.5 lakh units, up by 16.2% in the corresponding period last year. This includes 8,165 units of exports. In the first half of this fiscal, the company has reported a profit of Rs 737 crore, a significant 50.6% growth as compared to a profit of Rs 489.1 crore in the first half of the financial year ’05-06. Its total income has grown from Rs 5870.5 crore to Rs 6809.6 crore. During the first half of this year, Maruti’s sales grew by 18% in the domestic car market. In the same period, the A1 & A2 car segment, showed a higher growth of 19%.