Maruti Suzuki India today announced a 34 per cent fall in net profit for the fourth quarter in spite of higher sales as a new method pushed up the depreciation charge, and warned of low consumer confidence and high competition in the times to come.
The company also made a one-time payment of Rs 54.5 crore to dealers following an excise duty cut on small cars, and suffered a net loss of Rs 50.5 crore in the quarter after it marked to market its derivative positions.
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