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| Indian operations are healthy, says Suzuki Motor Corp |
| Press Trust of India / Tokyo/New Delhi May 11, 2009, 21:16 IST |
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Japanese auto giant Suzuki Motor Corporation (SMC) has lauded its Indian operations for maintaining healthy performance and contributing significantly to its net income despite a slump in the global automart.
Suzuki's net income plunged by about 66 per cent for the year ended March 31, 2009.
Quoting Suzuki Motor Corp's (SMC) Senior Managing Director Takao Hirosawa, AFP said: "...The Indian market, which is one of our main pillars, is relatively healthy."
The company today reported a net income of 27.43 billion yen (about Rs 1,388.83 crore) for FY09, compared to 80.25 billion yen (about Rs 4,062.83 crore) in the previous fiscal.
Maruti Suzuki India (MSI), in which SMC holds 54.21 per cent, booked a net profit of Rs 1,227.45 crore for 2008-09 against Rs 1,789.87 crore in 2007-08, a dip of 31.42 per cent.
During FY09, MSI sold 7,92,167 cars against 7,64,842 units in the previous fiscal, up 3.5 per cent.
Besides India, Hirosawa said the company managed to make a profit because its small cars did relatively well in Japan.
"...And our reliance on North America was relatively small," he added.
SMC, however, forecast a rough ride ahead for the ongoing fiscal on the wake of economic downturn, which has affected auto companies badly across the world.
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