Maruti Suzuki Q4 Results: Net profit falls 10% YoY, below estimates; sales surge
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Last Updated: Apr 27, 2021, 03:25 PM IST
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Analysts had expected Maruti Suzuki India to report a 38 per cent year-on-year jump in net profit to Rs 1,785 crore for the quarter on revenues of Rs 23,704 crore.
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Maruti Suzuki’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.
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Maruti Suzuki India today reported a near 10 per cent year-on-year fall in net profit to Rs 1,166 crore for the quarter ended March. The company’s sales, however, soared 33.6 per cent on-year to Rs 22,958.6 crore.
Maruti Suzuki FY21 net profit dips 25.1% to Rs 4,229.7 crore
For the January-March quarter, the company s net profit fell 9.7% YoY to Rs 1,166.10 crore, while net sales rose 33.6 per cent to Rs 22,958 crore.
Rai Vinaykumar | April 27, 2021 | Updated 15:42 IST
The automaker s sales declined 6.7 per cent YoY to 14,57,861 vehicles during FY21.
Hit by lower sales due to the COVID-19 pandemic, Maruti Suzuki India on Tuesday reported a 25.1 per cent year-on-year (YoY) decline in its net profit at Rs 4,229.7 crore for the fiscal year 2020-21.
The carmaker attributed the decline in net profit to lower sales volume, increase in commodity prices, adverse foreign exchange movements, and lower non-operating income, partially offset by lower operating expenses and cost reduction efforts.
Domestic stock indices nursed losses for the third consecutive session on Thursday as a lacklustre trend in global equities and concerns over stretched valuations sparked a retreat from risky assets. Banking and finance stocks bore the brunt of heavy selling, with HDFC twins being the top drags on the Sensex for the second day. The 30-share BSE benchmark ended 379.14 points or 0.73 per cent lower at 51,324.69. Similarly, the broader NSE Nifty dropped 89.95 points or 0.59 per cent to finish at 15,118.95. Bajaj Finance was the top laggard among the Sensex constituents, declining 2.43 per cent, followed by Kotak Bank, M&M, Nestle India, HDFC, HDFC Bank and ICICI Bank.
Maruti Suzuki Q3 Preview: Profit, Revenue May Witness Double-digit Growth Amid Strong Volumes moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Read more about Maruti Suzuki Q3 results preview: Analysts see up to 30% YoY growth in PAT on Business Standard. According to the monthly sales data, Maruti sold 4.95 lakh units in the December quarter of FY21, up 13.4 per cent from 4.37 lakh units sold in the year-ago quarter