April 27, 2024 22:27 (IST)
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Maruti Suzuki see a dip in quarterly net profit
New Delhi, Apr 26 (IBNS) Maruti Suzuki, which reported its Jan-Mar 2016 or fourth quarter (Q4 earnings) on Tuesday, saw its net profit dip 11.7 per cent to Rs 11,336 million compared to Q4 results in 2015.
But its revenue and margins for the fourth quarter beat analysts' expectations.
The company sold 360,402 vehicles in Q4 this year, including export of 27,009 units. Total sales improved 3.9 per cent.
The company reported net sales of Rs 149,295 million, up 12.5 per cent from the same quarter of the previous year.
The company said that profits were affected by the Jat reservation agitation, which led to a loss of over 10,000 units, increased advertising spending and lower other income.
For the full year, April 2015-March 2016, the company reported that its total sale increased 10.6 per cent to 1,429,248 vehicles, including 23,897 units exported, compared to the previous fiscal year.
Net sales for the full year increased 15.9 per cent compared to the previous year, to Rs 563,504 million. Net profit increased 23.2 per cent to 45,714 million over the same period.
The company said its full year profit benefited from higher volumes aided by successful new model launches and market expansion, lower raw material cost and cost reduction initiatives.
The company said that its Board of Directors recommended a dividend of 700 per cent per cent (Rs 35 per share of face value Rs 5) for 2015-16. The dividend in 2014-15 was at 500 per cent (Rs 25 oeer share if face value Rs 5).
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