Mark-to-market losses dent Maruti bottomline in Q4
The company had posted net profit of Rs 1291.7 crore in the corresponding period of the previous financial year.
Revenues from operations increased to Rs 24023.7 crore in the period under review – which is an increase of 32% over Rs 18198.7 crore recorded in the year-ago period.
The operating profit for the quarter under consideration stood at Rs 1250.1 crore, a growth of 72.8% over the same period previous year on account of higher sales volume and cost reduction efforts despite steep commodity price increase.
The company sold 492,235 vehicles last quarter, which is an increase of 27.8% compared to the same period previous year. Sales in the domestic market stood at 456,707 units, growing by 26.7%. Exports were at 35,528 units, higher by 44.4%.
“It may be recalled that in Quarter 4 (FY 2019-20) of the previous year there was a significant decline in the sales volume largely owing to COVID-19 lockdown”, the company said in a statement.
In line with the financial performance of the year and considering uncertain business environment, the Board of Directors recommended a dividend of Rs 45 per share (face value of INR 5 per share) for FY 2020-21.
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