Maruti Udyog Q3 net profit at Rs.376.41 crores, merges subsidiary MSAIL

Maruti Udyog Ltd has announced the following Unaudited results for the quarter ended December 31, 2006:

The Company has posted a net profit of Rs 3764.10 million for the quarter ended December 31, 2006 where as the same was at Rs 3390.10 million for the quarter ended December 31, 2005. Total Income (net of excise) is Rs 38079.00 million for the quarter ended December 31, 2006 where as the same was at Rs 32186.20 million for the quarter ended December 31, 2005.

The scheme of merger of the Company's wholly owned subsidiary, Maruti Suzuki Automobiles India Ltd ("MSAIL") with the Company from the appointed date April 01, 2006 was approved by the Honorable Delhi High Court during the quarter and became effective on November 13, 2006, (the date of registration of the approved scheme with the Ministry of Company Affairs). Pursuant to the merger, the profit before tax for the current quarter has been arrived at after deducting the loss of the erstwhile MSAIL for the period from April 01, 2006 to December 31, 2006, amounting to Rs 546.10 million of which Rs 213.20 million relates to the period April 01, 2006 to September 30, 2006 (corresponding period last year: Nil). Therefore, the results for the quarter are not comparable with those for the corresponding period of the previous year.

Source : Equity Bulls

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