Maruti Suzuki profit slumps 35 percent on lower sales

New Delhi, Apr 25: India’s largest car-maker Maruti Suzuki Friday said its net profit slumped by 35.46 percent to Rs.800.05 crore for the quarter ended March 31, 2014 largely due to low sales.

The company had posted a net profit of Rs.1,239.62 crore for January-March quarter of last year.

The company’s total income dropped to Rs.12,508.01 crore for the quarter under review as compared with Rs.13,703 crore recorded in the same quarter last year.

For fiscal 2013-14, the company posted a net profit of Rs.2,783.05 crore as compared to Rs.2,392.13 crore in the previous year, registering a growth of 16.3 percent.

Maruti Suzuki total income rose marginally to Rs.44,523.53 crore for the year ended March 31, 2014 as compared with Rs.44,400.30 crore in the previous year.

Maruti Suzuki sold 1,155,041 vehicles in the financial year 2013-14, which was 1.4 percent lower than its previous year figure.

The share price of Maruti Suzuki declined 1.35 percent to Rs.1,956.05 at the Bombay Stock Exchange Friday.