Maruti Q4 2014 net profit at Rs 800 crores; numbers disappoint, stock slumps

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, April 25, 2014, 13:36 [IST]

India's largest passenger car maker, Maruti Suzuki reported a disappointing set of numbers with Q4 2014 net profits at Rs 800 crores, as against Rs 681 crores reported in the previous quarter.

Operating margins were much lower than consensus estimates at 10.3 per cent. The company sold 298,596 vehicles during the quarter as against 268,185 vehicles sold in the quarter ending Dec 31, 2013.

Other income at the company was placed at Rs 406 crores.

the company said that the stock compensation to dealers affected the bottomline along with a sluggish auto sales in 2013.

The company said that it expects sentiments to imporve in the coming months post elections. The stock of Maruti was down almost 3 per cent in trade.

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