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Maruti Suzuki Q4 net down 35.5% at Rs 800 cr; misses estimate

By Religare
|

Country's largest car maker Maruti Suzuki India on Friday witnessed 35.46 per cent decline in its standalone net profit at Rs 800.05 crore, missing estimates, for the fourth quarter ended March 31, 2014, weighed down by lower volumes and higher expenses.

In Q4 FY 2012-13, the company had posted a standalone net profit of Rs 1,239.62 crore, Maruti Suzuki India said in a filing to the Bombay Stock Exchange (BSE).

 

During the quarter under review, net sales of company dipped by 9.48 per cent at Rs 11,818.13 crore from Rs 13,056.26 crore in the same period a year ago.

The company sold 324,870 vehicles during the quarter. Domestic sales stood at 298,596 units compared to 308,871 units in the same period of last year as buyers postponed their purchases and waited for a slowing economy to pick up. Adding the woes, export also declined by 24.6 per cent to 26,274 units.

Commenting on performance, company said, "Lower volumes, higher sales promotion expense and a stock compensation to dealers owing to reduction in excise duty (exceptional expense) impacted the company's bottom-line during the quarter."

The company in the filing also disclosed that the financial result for the fourth quarter includes full impact of merger of Suzuki Powertrain India with Maruti Suzuki India.

Weighed down by earnings, shares of company closed at Rs 1956.05 a piece, down 1.35 per cent from previous close on BSE.

Read more about: maruti suzuki india
Story first published: Friday, April 25, 2014, 23:00 [IST]
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