Maruti Q4 net zooms 65 per cent

Riding on the back of its highest ever annual sales, the country’s largest carmaker Maruti Udyog Ltd on Friday reported a 65 per cent j...

Riding on the back of its highest ever annual sales, the country’s largest carmaker Maruti Udyog Ltd on Friday reported a 65 per cent jump in its net profit during the fourth quarter of 2004-05.

The jump was largely due to cost-cutting and productivity improvement that absorbed higher input costs.

Net profit in the fourth quarter rose to Rs 259.45 crore compared to Rs 157.15 crore during the year ago period.

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The company’s board of directors also recommended a final dividend aggregating Rs 57.78 crore — Rs 2 per share for 2004-05. The net profit for 2004-05 grew 57.44 per cent to Rs 853.63 crore compared to Rs 542.18 crore in 2003-04.

Total income grew 19.68 per cent to Rs 11,353.87 crore from Rs 9,486.62 crore in FY04.

MUL’s consolidated annual profit rose 56.9 per cent to Rs 880.14 crore compared to Rs 560.94 crore in 2003-04.

Consolidated annual profit rose 56.9 per cent to Rs 880.14 crore compared to Rs 560.94 crore in 2003-04.

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Total income increased from Rs 9,597.66 crore in FY04 to Rs 11,498 crore in 2004-05.

Extension for Jagdish Khattar

NEW DELHI: Reposing faith in him, the MUL board has extended the term of bureaucrat-turned-corporate honcho Jagdish Khattar as MD. After taking charge in 1999, Khattar is credited with having turned around the company despite stiff competition from MNCs like Honda and Hyundai. Khattar will have a fresh term of three years or till the age of 65, whichever is earlier. — PTI