Maruti witnesses a jump of 20.34 percent in tax payment during FY10

Monday 24 January 2011, 00:00 AM by Vikas Yogi

Maruti Suzuki India Ltd (MSIL), the largest car manufacturer in the Indian market, has witnessed an increase of 20.34% to Rs 5,461.3 crore in its tax payment to the government in financial year 2009-10, as compared to the tax payment in preceding financial year.

The company said in its Sustainability Report for the last fiscal, "Driven by large volume growth during the year 2009-10, the company's gross contribution to the National Exchequer (via taxes and duties) stood at Rs 5,461.3 crore in 2009-10, as compared to Rs 4,538.2 crore in 2008-09."

According to Mr. S Nakanishi, Managing Director at MSI, "The year 2009-10 was a landmark year for Maruti Suzuki and the Indian passenger vehicle industry. Maruti Suzuki became the first company in India to make and sell a million cars in a year."

The net sales of the company during the fiscal jumped by 42.2% to Rs 28,958.5 crore as compared to previous financial year. The profit after tax also surged by 105 per cent to Rs 2,497.6 crore during this period.

MSI's payments towards employees' wages surged by 15.8 per cent to Rs 545.6 crore in the fiscal from Rs 471.1 crore in 2008-09.