Maruti Suzuki India Ltd has reported an 18 per cent growth in its net profit for the first quarter ended June 30, 2011 at Rs 5,492 million, as against Rs 4,653 million in the corresponding quarter of the previous fiscal. The auto major has registered Q1 FY12 net sales of Rs 83,199 million, a growth of 3.3 per cent compared to the same period of the previous year.
Higher commodity prices and foreign exchange volatility put pressure on margins as compared to the same period previous year. The market was sluggish, mainly due to a sharp increase in fuel prices and higher interest rates. The company’s unit sales in the domestic market grew by 3.2 per cent during Q1.
During the quarter, the company sold 250,683 units in the domestic market. Exports were at 30,843 units, as against 40,437 units in the same period of the previous year.
Maruti Suzuki’s volume in the domestic A3 segment grew by 5.7 per cent, compared to sales in April-June 2010. The A2 segment was flat (up by 0.3 per cent), while in the C segment, sales volume grew by 21.6 per cent.
During the quarter, the company further strengthened its countywide network.