The country's largest passenger cars manufacturer Maruti Suzuki India (MSIL) on Tuesday reported net profit of Rs 1,133.6 crore for the fourth quarter ended March 31, down 11.7 per cent as compared with Rs 1,284 crore in the corresponding quarter last year.

However, net sales grew 12.5 per cent year-on-year (YoY) during the quarter at Rs 14,929.5 crore, as against Rs 13,272. 6 crore in the corresponding period last year.

During the quarter, the company sold 3,60,402 units of vehicles, up 3.9 per cent as compared with 3,46,712 vehicles sold in Q4 last year.

The company said loss of over 10,000 units due to the reservation agitation, increased advertising expenses and lower other income slightly impacted profits during the quarter.

The company sold a total of 1,429,248 vehicles in 2015-16, a growth of 10.6 per cent. Of this, exports were at 123,897 units.

For the full year, MSIL reported net sales of Rs 56,350.4 crore in April-March 2015-16, a growth of 15.9 per cent over the same period last year.

Net profit stood at Rs 4,571.4 crore, up 23.2 per cent.

Higher volumes aided by successful new model launches and network expansion, lower raw material cost and continued cost reduction initiatives led to growth in profits during the year, MSIL said.

To pay 700% dividend

The board of directors has recommended a dividend of 700 per cent (Rs 35 per share of face value Rs 5) for 2015-16.

The dividend in 2014-15 was at 500 per cent (Rs 25 per share of face value Rs 5).

At 2.30 pm the Maruti Suzuki share was quoting at Rs 3,858, up 3.31 per cent on the BSE.

Related Topics
comment COMMENT NOW