Maruti Q4 dips 28% to Rs 1,322 crore; check key highlights of result

New Delhi: The nation’s largest automotive maker Maruti Suzuki India (MSI) on Wednesday reported a 27.77 p.c decline in consolidated web revenue to Rs 1,322.Three crore for the fourth quarter of 2019-20, on account of decrease gross sales quantity, greater promotion bills and depreciation bills.

The firm had posted a web revenue of Rs 1,830.eight crore within the January-March interval of 2018-19, MSI stated in an announcement. 

For your complete 2019-20 fiscal, MSI posted a web revenue of Rs 5,677.6 crore, down 25.78 per cent from Rs 7,650.6 crore within the 2018-19. Net gross sales final fiscal stood at Rs 75,660.6 crore as towards Rs 86,068.5 crore in 2018-19.

Maruti stated that the Board of Directors at their assembly thought of and really helpful a last dividend aggregating Rs 18,125 million i.e. Rs 60 per share (Nominal worth Rs 5.00 per share) for the monetary 12 months 2019-20. Final dividend is topic to approval of shareholders, MSI stated.

Net gross sales in the course of the quarter declined to Rs 18,207.7 crore, down 15.2 per cent from Rs 21,473.1 crore within the year-ago interval.

Total automotive gross sales in the course of the fourth quarter declined by 16 per cent to 3,85,025 items as in contrast to the identical interval of 2018-19. Total quantity gross sales throughout 2019-20 have been down 16.1 per cent to 15,63,297 items. Of this, 1,02,171 items have been exported, the corporate stated.

The firm stated profitability was hit in the course of the fiscal on account of decrease gross sales quantity, greater gross sales promotion bills and depreciation bills.

It was partially offset by decrease working bills, value discount efforts, greater truthful worth good points on invested surplus and discount in company tax fee, it added.

“The Company has performed sensitivity analysis on the assumptions used and based on current estimates expects the carrying amount of these assets will be recovered. The impact of COVID-19 on the Company’s financial results may differ from that estimated as at the date of approval of these financial results,” MSI stated.

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