Maruti net up 43 % to Rs 263 cr

Maruti Udyog has reported a post-tax profit of Rs 262.66 crore for the second quarter ended September 30, 2005, up 43.1 per cent over July-September 2004.

The company has reported a total income of Rs 3,149 crore (net of excise) during the period, a growth of 15.9 per cent over the same period last year.

Profit before tax during the second quarter was up by 40.3 per cent to Rs 386.26 crore

Total income in the first half of the fiscal was Rs 5,874.37 crore, a growth of 11.4 per cent compared with the same period of the previous year. Net Profit during the period stood at Rs 489.12 crore, up 38 per cent over April-September 2004.

Analysts said operating profit margins at 11.8 per cent were below expectations. "This was mainly owing to the royalty payment on the new model, Swift, and an extraordinary expenditure of Rs 10 crore."

On the volume front, the company's domestic sales during the second quarter grew 8.9 per cent over the same period last fiscal. The company's domestic market share during the quarter went up to 55.5 per cent, from 53.4 per cent in the same period last year.

In all, Maruti Udyog sold 140,543 vehicles during the quarter, including 11,880 units of exports.

A statement from the company said it was planning to set up 15 Maruti driving schools across the country, this year.

These would be in addition to the three schools set up by the company in the last financial year.