Maruti Suzuki Reports 28% YoY Decline In Q4 Profit At Rs 1,322 Crore
The Board of Directors of Maruti Suzuki India Limited today approves the financial results for the financial year April 2019-March 2020 and Q4 (January-March 2020).
Highlights: Full year (April 2019 - March 2020)
The Company sold a total of 1,563,297 vehicles during the year, lower by 16.1% over the same period the previous year.
In the domestic market, the Company sold 1,461,126 vehicles, lower by 16.7% over the same period the previous year, in line with the industry.
Exports were at 102,171 vehicles, lower by 6% over the same period the previous year.
The Company’s net sales stood at INR 716,904 million in FY 2019-20, lower by 13.7% over the same period the previous year.
Net profit for the year stood at INR 56,506 million, lower by 24.7% over the same period previous year on account of lower sales volume, higher sales promotion expenses and higher depreciation expenses, partially offset by lower operating expenses, cost reduction efforts, higher fair value gains on invested surplus and reduction in the corporate tax rate.
Highlights: Q4 (January-March 2020)
The Company sold a total of 385,025 vehicles during Q4, lower by 16% over the same period previous year.
In domestic market, the Company sold 360,428 vehicles, lower by 16% over the same period previous year.
Exports were at 24,597 vehicles, lower by 16.9% over the same period previous year.
In Q4, the Company registered Net Sales of INR 1,71,857 million, lower by 17.1% over the same period previous year.
Net profit in the Q4 stood at INR 12,917 million, lower by 28.1% over the same period previous year on account of lower sales volume, higher sales promotion expenses, partially offset by lower operating expenses, cost reduction efforts and reduction in corporate tax rate.
Dividend
In line with the financial performance of the year and considering uncertain business environment, the Board of Directors recommended a dividend of INR 60/- per share (face value of INR 5 per share) for FY 2019-20.
