Friday, Mar 29 2024 | Time 17:43 Hrs(IST)
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Business Economy


Maruti Suzuki Q4 profit up 58 pc to Rs 1,839 crore

New Delhi, Apr 29 (UNI) Country's largest carmaker Maruti Suzuki on Friday reported 58% jump in its net profit to Rs 1,839 crore in the quarter ending March 31, 2022.
Hike in prices across various car models and other cost reduction efforts helped the company overcome part of the challenges related to high raw material prices.
During the January-March quarter, the company registered net sales of Rs 25,514 crore, an increase of 11.1% compared to the same period of the previous year.
"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 continued to work on cost reduction efforts to minimize the impact on customers," Maruti Suzuki said in a statement.
The company sold a total of 4,88,830 vehicles during the quarter, lower by 0.7% compared to the same period previous year. In the quarter, the sales in the domestic market stood at 4,20,376 units, a decline of 8% over that in Q4 FY21.
The sales in the export market were at 68,454 units which is the highest ever in any quarter, the company said.
For the full year period (2021-22), the company reported 11% decline in net profit to Rs 3,766 crore.
The company registered net sales of Rs 83,798 crore compared to Rs 66,562 crore in FY 2020-21.
The company sold a total of 16,52,653 vehicles during the year, up 13.4% over the previous year.
The overall sales in the domestic market during FY22 stood at 14,14,277 units, an increase of 3.9% over FY 2020-21.
"The company recorded its highest ever exports of 238,376 units in FY 2021-22 compared to 96,139 units in FY 2020-21. This was also about 62% higher than the peak exports in any financial year so far," said the company.
Despite lower profit in FY 2021-22, the Board of Directors recommended a dividend of Rs 60 per share (face value of Rs 5 per share) compared to Rs 45 per share in FY 2020-21.
"This is a special one-time gesture to thank shareholders for their patronage and support as the company commemorates its 40th year since inception," Maruti Suzuki said.
UNI NK
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