Maruti Suzuki India's profit after tax (PAT) fell 28.1% to Rs 1291.70 crore on a 17.1% decline in net sales to Rs 17,185.70 crore in Q4 March 2020 (Q4 FY20) over Q4 March 2019 (Q4 FY19).
The auto maker attributed the decline in profitability to lower capacity utilisation and higher sales promotion expense, partially offset by lower operating expenses, cost reduction efforts and reduction in corporate tax rate.
The company sold a total of 385,025 vehicles during Q4, lower by 16% over the same period previous year.
In domestic market, the car major sold 360,428 vehicles, lower by 16% over the same period previous year. Exports were at 24,597 vehicles, lower by 16.9% over the same period previous year.
While the operating EBIT declined 50.2% to Rs 723.40 crore, profit before tax (PBT) shrunk 31.9% to Rs 1575.50 crore in Q4 FY20 over Q4 FY19.
Maruti Suzuki's PAT fell 24.7% to Rs 5,650.60 crore on 13.7% decline in net sales to Rs 71,690.40 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). PBT fell 32.5% to Rs 7,064.80 crore in FY20 over FY19.
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Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles).
Shares of Maruti rose 1.59% to Rs 5029 on the BSE. It has traded in the range of Rs 4987.80 and Rs 5321.30 so far during the day.
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