Impressed with Gujarat’s government helping hand in setting up new industries. Maruti has finally decided to go to Gujarat. According to Maruti, Gujarat is the best state in India which offers much more than expected for establishing big industrial units.
The company’s net profit figure in Q2 fell 60 percent to Rs 240 crore from the Rs 598 crore it had posted for the same quarter last year. The numbers were expected to be weak due to the strike at the Manesar plant since June which produces the best selling Swift model for the company. However, the final number came in a good 41 percent lower than CNBC TV18estimate of Rs 410 crore.
Total income has decreased from Rs 9,282 crore for the quarter ended 30 September 2010 to Rs 7,949 crore for the quarter ended 30 September 2011. Net sales were down 15.6 percent, but employee cost was up 27.5 percent.