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Maruti Q1 net up 971.3 pc to Rs 123.2 cr
New Delhi, July 23: Soon after its listing on major stock exchanges of the country, car market leader Maruti Udyog (MUL) today reported a hefty 971.3 per cent growth in net profit during the first quarter this fiscal.
New Delhi, July 23: Soon after its listing on major stock exchanges of the country, car market leader Maruti Udyog (MUL) today reported a hefty 971.3 per cent growth in net
profit during the first quarter this fiscal.
Net profit stood at Rs 123.2 crore during the quarter ended June 30, 2003 over Rs 11.5 crore during the year ago period, a company statement said.
Total income went up by a robust 44.7 per cent to Rs 2,109.9 crore during the review period against Rs 1,457.5 crore during the corresponding period last year.
Profit before tax posted a rise of whopping 735.7 per cent to Rs 175.2 crore during the April-June quarter this year over Rs 21 crore during the year ago period, the MUL release said.
In view of the listing of the company's shares last month, it was mandatory for MUL to publish quarterly results from the quarter ending September 30 this year, but Maruti decided to release unaudited financial results for the first quarter, MUL managing director Jagdish Khattar said.
Car sales of the company grew by about 47.4 per cent to 1.04 lakh units during the first quarter which includes 12,496 units of exports, a growth of 254.1 per cent over the quarter ended June 30, 2002.
Bureau Report
Total income went up by a robust 44.7 per cent to Rs 2,109.9 crore during the review period against Rs 1,457.5 crore during the corresponding period last year.
Profit before tax posted a rise of whopping 735.7 per cent to Rs 175.2 crore during the April-June quarter this year over Rs 21 crore during the year ago period, the MUL release said.
In view of the listing of the company's shares last month, it was mandatory for MUL to publish quarterly results from the quarter ending September 30 this year, but Maruti decided to release unaudited financial results for the first quarter, MUL managing director Jagdish Khattar said.
Car sales of the company grew by about 47.4 per cent to 1.04 lakh units during the first quarter which includes 12,496 units of exports, a growth of 254.1 per cent over the quarter ended June 30, 2002.
Bureau Report