Maruti Suzuki India Reports Profit Of Rs 1,796 Crore For March Quarter

Maruti Suzuki India on Thursday reported a net profit of Rs 1,795.6 crore for the quarter ended March 31, meeting analysts' expectations. However, that marked a decrease of 4.6 per cent compared with that of Rs 1,882.1 crore for the corresponding period a year ago. In a regulatory filing on the BSE, Maruti Suzuki India said the quarter was "marked by adverse foreign exchange rates and commodity prices, higher depreciation and higher sales promotion expenses partially offset by cost reduction efforts".

Analysts had on an average estimated the company to post a profit of Rs 1,747 crore for the quarter ended March 31, news agency Reuters reported citing Refinitiv data.

The carmaker also said its revenue from operations rose 1.4 per cent to Rs 21,459.4 crore for the fourth quarter of financial year 2018-19, from Rs 21,165.6 crore a year ago.

Maruti Suzuki India said its total sales stood at 4,58,479 units in the quarter, marking a year-on-year decline of 0.7 per cent. The auto maker also said it registered net sales of Rs 20,737.5 crore in the quarter - an increase of 0.7 per cent compared with the year-ago period.

For the year ended March 31, its total sales grew 4.7 per cent to 18,62,449 units. Net sales for the full-year period stood at Rs 83,026.5 crore, marking a year-on-year increase of 6.3 per cent.

Maruti Suzuki India's board of directors recommended a dividend of Rs 80 per share.

Maruti Suzuki India shares fell as much as 1.95 per cent on Thursday. At 2:44 pm, the Maruti Suzuki India stock traded 1.62 per cent lower at Rs 6,910.85 apiece on the BSE, underperforming the broader markets which were flat.