Maruti Suzuki Q4 net profit at Rs 1709 crore; offers Rs 75 per share dividend
Maruti Suzuki reported nearly 16% year-on-year rise in its net profit for the fourth quarter ended March 31, 2017 result.
The company reported net profit of Rs 1,709 crore in Q4, rising by 15.77% compared to Rs 1,476.2 crore in the corresponding period of the previous year.
However, Q4FY17 net profit has declined by 2.03% from Rs 1,744.50 crore of the preceding quarter.
Analysts at Motilal Oswal expected Maruti to report net profit of Rs 1,823.1 crore, up 17% yoy and 5% qoq.
Maruti said, "Growth in volumes, increase in share of the company's higher segment models, benefits due to full capacity utilisation and cost reduction efforts contributed to increase in profits. This was partially offset by increase in commodity prices and adverse forex movement."
Total income stood at Rs 21,196.10 crore, witnessing growth of 19.24% year-on-year (YoY) and 7.11% quarter-on-quarter (QoQ) basis.
This Q4, operating profit (EBITDA) was at Rs 2,560.7 crore, increasing by 9.9% yoy and 2.9% qoq.
In terms of volume growth, sales stood at 414,439 vehicles, growing by 15% yoy and 7% qoq.
For the entire fiscal (FY17), sales volume stood at 1,568,603 vehicles with growth 9.8% yoy.
Among total sales, domestic front recorded growth of 10.7% to 1,444,541 units in FY17, versus 1,305,351 units in FY16. Export sales remain muted at 124,062 units this FY17.
Here's a segment-wise performance of Maruti's total sales throughout FY17.
In its meeting held on Thursday, Maruti's board of directors have recommended a dividend of Rs 75 per shares at a face value of Rs 5 a piece for FY17.
At 1352 hours, shares of Maruti were trading at Rs 6,440 per piece on BSE, above Rs 33 or 0.51%.