Maruti net sees 2-fold jump to Rs 501 cr

Car sales so far this fiscal are down on the previous twelve months and are on track to post their lowest growth in nine years, according to the industry body Society of Indian Automobile Manufacturers (SIAM).

Arun Agarwal, analyst with Kotak Securities said, "Expected passenger car demand improvement coupled with strong product portfolio is expected to help Maruti post healthy volume growth in FY14. Margins in FY14 should receive boost from depreciating Yen."

In a separate BSE filing, Maruti also said that it has appointed R P Singh as a non-executive, independent director on its board from January 25, 2013. Singh, lAS (retired) is currently the chairman of the National Highways Authority of India.

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