Q3 Sales Report - Maruti Suzuki consolidates its position as Market leader

Maruti Suzuki India Limited (MSIL), Board of Directors, have rolled out the financial results for the last quarter of 2013, ranging from October to December. The stats reflect de-growth in sales where as Maruti's stature as company increased during this period in the Indian auto sector.

In all, the company sold 288,151 vehicles in the last quarter of 2013; a de-growth of 4.4 percent as compared to the sales in the same period of time, last year.  As far as exports are concerned, Maruti suffered a nasty blow in this section as it exported a mere 19,966 units which shows a depreciation of 38.6 percent, if compared with the same time period in the last year. Despite the moderate sales figures and de-growth in certain sections, Maruti recorded a Net Profit of Rs. 6,811 million in the last quarter of 2013 which is 35.9 percent higher than the one in the last quarter of 2012. Higher localization, favourable foreign exchange and cost reduction initiatives by the Company contributed significantly to Net Profit.

However, to company's utmost happiness, its market share in the Indian automotive industry saw a rise by 2.5 percent as compared to the same period in 2013. Currently, the company's market share stands at 42.8 percent. The Company registered Net Sales (net of excise) of Rs. 106,197 million, a fall of 3 per cent over the same period in the previous year.

Source:cardekho