Maruti Suzuki India Ltd, India's largest carmaker, looks to have emerged strongly from the slowdown and reported a 25.65 per cent increase in net profit.
However, there is a catch to it. While the domestic sales in terms of numbers of vehicles has remained stagnant, exports have flourished, virtually doubling in number, quarter-on-quarter.
The carmaker has looked to battle the slowdown in India by pushing exports, even though the global economy, especially those of the developed world, are still stuck in a quagmire.
Its net income from operations increased at an impressive rate of 47.72 per cent. A lot of this was achieved with some help from reduction in excise duty on sales. At the same time there was only marginal increase in employee costs. Whereas net sales increased by 27.96 per cent.
The company's net profit increased by a healthy 25.65 per cent.
Also See: Snapshot
Maruti Suzuki
ITC Limited
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