Maruti Suzuki consolidated Q4 net up 58% to Rs 1,839 cr despite sales dip

India’s largest carmaker, India Ltd, reported a 58% rise in fourth-quarter net profit on Friday, of Rs 1,839 crore. The firm had reported a net profit of Rs 1,166 crore in the corresponding period last year.

Consolidated total revenue from operations was up 11.29 per cent at Rs 26,749.20 crore, from Rs 24,034.50 crore a year ago, it added.

Total vehicle sales in the quarter under review stood at 488,830 units, lower by 0.7 per cent from the same period previous year.

Domestic sales were 420,376 units, down eight per cent over the Q4FY21 number, the company said, adding that exports stood at 68,454 units, the highest ever in any quarter.

The company sold a total of 1,652,653 vehicles during the year, up 13.4 per cent over the previous year, it said, adding domestic sales were at 1,414,277 units, up 3.9 per cent over FY 2020-21.

“Production during the year was impacted by shortage of electronic components by an estimated 270,000 vehicles, mostly domestic models, because of which there were pending customer bookings of about 268,000 vehicles at the end of the year,” said.

“The prices of commodities such as steel, aluminium and precious metals witnessed an unprecedented increase during this year. The company was forced to increase prices of vehicles to partially offset this impact,” the company said in a filing with the stock exchanges.

Maruti said the board has recommended a final dividend of Rs 60 per share for the year FY22.

On Friday, Maruti shares were trading at Rs 7,680 a share on BSE, just a few minutes before the closing bell.

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