Maruti Suzuki Q4 profit down 10% to Rs 1,166 crore
Published On: Tuesday, April 27, 2021 | By: Team KnowMyStock
India’s largest passenger car manufacturer Maruti Suzuki India on Tuesday reported a near 10 percent year-on-year fall in net profit to Rs 1,166 crore for the quarter ended March on account of lower sales volume, increase in commodity prices, adverse foreign exchange movement, and lower non-operating income. During the previous year, the company reported a profit of Rs 1,291.7 crore. Revenue from operations in Q4 FY21 stood at Rs 24,023.7 crore, up 32 percent from Rs 18,198.7 crore in the year-ago period backed by strong double-digit growth in sales. In the December quarter of the current fiscal, PAT stood at Rs 1,941.4 crore. On a consolidated basis, the net profit slipped 6.1 percent to Rs 1,241.1 crore. Analysts had expected Maruti to report a 38 percent year-on-year jump in net profit to Rs 1,785 crore for the quarter on revenues of Rs 23,704 crore.
At the operating level, earnings before interest, tax, depreciation, and amortization (EBITDA ) grew 28.8 percent year-on-year to Rs 1,991.4 crore on account of higher sales volume and cost reduction efforts despite a steep rise in commodity prices.
The company sold a total of 492,235 vehicles during the quarter, up 27.8 per cent compared to the same period previous year. Sales in the domestic market stood at 456,707 units, growing by 26.7 per cent. Exports, meanwhile, were at 35,528 units, higher by 44.4 per cent.
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