Maruti Suzuki net profit marginally up

MUMBAI, April 25 (Business Standard): Maruti Suzuki posted its fourth quarter net profit at Rs 6.60 billion, marginally up by 0.52 per cent from Rs 6.57 billion in the same quarter a year ago, according to a television channel. The net sales for the quarter have increased by 19.76 per cent at Rs 98.63 billion as compared to Rs 82.35 billion in the corresponding quaretr a year ago. The company said that the FY11 passenger vehicles market share has grown at 44.9 per cent. The exports for the year haven fallen by 6 per cent, affected by the uncertain economic conditions of Europe and that the Japan crisis has not quite affected the company's operations. It also told a television channel that the domestic market growth has been driven by the consumer confidence in the company. It added that the company has had a market share hike to due to the strong product portfolio addition with the launch of new models in the market. It said that the mileage of the car remains a key parameter in the car selection for consumers. The company says the FY11 profits have been hit by adverse currency movement.