Maruti Suzuki India Limited, the largest car maker in the Indian auto market, has registered a sharp fall of 28.55%in its net profit for the financial year 2011-12. The net profit of the Indian auto giant stood at Rs. 1,635.1 crore as on the fiscal ending on March 31st, as compared to the net profit of 2,288.7 crore registered in the financial year 2010-11. The major factors behind this sharp decline in the company’s sales during this fiscal include a series of labor problems at the Manesar plant, increasing completion and weakening value of rupee.
In the Q4 2011-12, the company sold a total of 360,334 units of its cars as compared to 343,340 units sold in the same quarter last year, registering a marginal increase of 4.9% in sales. The net profit of the company stood at Rs. 6,398 Mn during this quarter as compared to Rs. 6,599 Mn registered in the Q4 FY2010-11.
The total sales of the company in FY11-12 stood at 1,133,695units as compared to the 1,271,005 units sold in the financial year 2010-11, accounting for a fall of 10.8 percent. While the sales decline in the domestic market was about 11.2 percent, the exports of the firm dipped 7.9 percent during this fiscal.
