India's largest car maker Maruti Suzuki has reported fourth quarter net profit of Rs 660 crore, a growth of 0.5% as compared to Rs 656.5 crore in same quarter the previous year. It was quite better-than-expectations - CNBC-TV18 poll saw net profit at Rs 619 crore.
Net sales went up by 19.8% to Rs 9,863 crore in January-March quarter 2011 as against Rs 8,235 crore in same quarter 2010. Street was expecting the same at Rs 9814 crore.
Sales are in line with expectations, says Prayesh Jain of IIFL. "Margins have been a positive surprise. But Maruti’s operating profit margin has to improve for it outperform."
Other operating income declined at Rs 186 crore from Rs 205 crore on year-on-year basis.
Raw material cost was up by 24% at Rs 7,598 crore from Rs 6,128 crore (YoY).
Maruti says, FY11 profit hit by adverse currency movement.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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