Maruti Suzuki India reported a 5% YoY decline in net profit for the quarter ended March 2019. Net profit for the period under review came in at Rs 1,795.6 crore as against Rs. 1,882.1 crore in the same period a year ago.
The degrowth in profit figure for March quarter has come on the back of subdued growth in sales volume as well as weak operational performance. "This quarter was marked by adverse foreign exchange rates and commodity prices, higher depreciation and higher sales promotion expenses partially offset by cost reduction efforts," the company said.
However revenue from operations registered growth of 1.4% YoY to Rs 21,459.4 crore during the period. Sales volume also lagged 0.7% YoY, with total sales at 4,58,479 vehicle units during the period.
"We sold a total of 4,28,863 units in the domestic market, a growth of 0.4 percent. This comprised 4,21,383 units in passenger vehicle segment, a decline of 0.4 percent and 7,480 units of LCV, a growth of 83.6 percent over previous year. Exports were at 29,616 units", added the company.
Realisation per vehicle also lowered to Rs. 4.52 lakh in the quarter ended March versus Rs. 4.58 lakh fetched during the corresponding period last year.
EBITDA decreased by 25% YoY to Rs. 2,263.4 crore and margin also tapered to 12.5%, with a decline of 369 basis points due to adverse foreign exchange rates.
The country's leading passenger vehicle manufacturer recommended a dividend of Rs 80 per share for financial year 2018-19, which is the same as last year.
The stock last quoted at Rs. 6,910, down Rs 114.35, or 1.63 percent on the BSE.