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Maruti Suzuki Q4: Sales pick up but net profit declines 10.7%

The company sold 4.92 lakh units in the reported quarter.

MUMBAI: Automobile manufacturer Maruti Suzuki India’s net profit tumbled 10.7 per cent to Rs 1,166 crore for the quarter ended 31 March 2021. This, despite sales soaring 33.6 per cent year-on-year to Rs 22,958.6 crore.

The unexpected fall in the net profit of the company was the result of a steep decline in other income to Rs 89.8 crore from Rs 880 crore a year ago.

According to an exchange filing, Maruti Suzuki's revenue for the fourth quarter rose 26 per cent to Rs 24,113 crore, compared with the Rs 23,918-crore estimate. That’s the third straight quarter of an increase in top line for the company. EBITDA margin contracted to 13.1 per cent from 14 per cent. Earnings before interest, tax, depreciation and amortisation increased 15 per cent to Rs 3,161 crore.

The company sold 4.92 lakh units in the reported quarter, up 28 per cent from the year earlier.

Aided by higher sales and cost reduction efforts, the carmaker’s operating profit in the quarter surged 72.8 per cent year-on-year to Rs 1,250.1 crore during Q4. Its operating margin in the quarter rose 120 basis points on year to 5.4 per cent.

The company’s year-on-year performance on the topline has been aided by the low base of the year ago quarter which was hit by the national lockdown to stem the pandemic. Lower promotion costs, cost reduction efforts and improved capacity utilisation aided the margin performance during the quarter, the auto company said.

For the financial year, Maruti Suzuki’s net sales fell 7.2 per cent to Rs 66,562.1 crore, while net profit slumped 25 per cent to Rs 4,229.7 crore.

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