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Slip & slide
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Oct. 30: Maruti Suzuki India has posted a fifth straight decline in net profit in the September quarter at Rs 227 crore, down 5.4 per cent from Rs 240 crore in the same period a year ago.
The profit slip has been attributed to labour unrest, which forced the company to temporarily halt production at one of its two factories, and discounts to ramp up the sale of petrol vehicles.
Net sales rose 8.53 per cent to Rs 8,070.11 crore from Rs 7,435.85 crore in the year-ago period. Vehicle sales fell 8.69 per cent to 2,30,376 units from 2,52,307 units a year ago.
“The market showed a marked preference for diesel cars, while demand for petrol vehicles dropped sharply. The bottomline has also been impacted by lower non-operating income during the quarter,” Maruti said.
McLeod Russel
McLeod Russel India Ltd has posted a 3.17 per cent rise in standalone net profit for the quarter ended September at Rs 230.31 crore against Rs 223.23 crore in the same period last year.
Total income from operations rose to Rs 449.50 crore from Rs 426.34 crore in the year-ago period.
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