Maruti Suzuki India Ltd.

India’s leading car maker, Maruti Suzuki India (MSIL) has received its board’s approval to purchase land at district Mehsana in Gujarat, for future expansion of manufacturing facilities. This purchase would be subject to final negotiations on price and all legal formalities being completed.

Moreover, during the first half of the year, the company registered net sales (net of excise) of Rs 15857.40 crore, a drop of 6.70% over the same period last year. Net Profit during the first half of 2011-12 stood at Rs 789.70 crore a fall of 25.80% over the same period last year.

Further, the company posted a higher-than-expected fall in its fiscal second-quarter net profit, hurt by a weak rupee and as it lost output of 28,539 cars due to labor unrest at one of its factories. The company sold 252,307 vehicles in the quarter, down 20% from a year earlier. Local vehicles sales fell 20% to 222,406 vehicles while exports were lower by 16% to 29,901 vehicles.