New Delhi: India's largest car maker Maruti Udyog has announced an over 40 per cent rise in third quarter results. The company has attributed the rise in profits to the popularity of the Swift model.
The company's Net profit grew to Rs 339 crore from Rs 239 crore during the same period last year.
While the total sales of the company have moved up by 11 per cent at Rs 3104 crore
The company's total Income (net of excise) has increased from Rs 2,938.37 crore in Q3 FY 04-05 to Rs 3,220.79 crore for Q3 FY 05-06.
The Overall vehicle sales at Maruti rose nearly 7 per cent in October-December 2005 from a year ago to 145,013 units, boosted by the popular Swift hatchback.
However, exports fell 44 per cent.
New Delhi-based MUL, 54.2 per cent-owned by Japan's Suzuki Motor Corporation, controls more than half of India's passenger vehicle market.
Earlier this month, the government sold an 8 per cent stake in Maruti for Rs 1,567.60 crore to eight financial institutions. It also said it may sell its remaining 10 per cent holding when the time is right.
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