Maruti Suzuki shares today surged nearly 4 per cent after the company's net sales rose by 12.5 per cent during the March quarter and posted highest-ever annual net profit.
The stock ended the day with a gain of 3.62 per cent at Rs 3,869.45 on BSE. Intra-day, it soared 4.2 per cent to Rs 3,891.25.
Maruti was the top gainer among the 30-Sensex stocks.
On NSE, the scrip climbed 3.85 per cent to close at Rs 3,871.55.
In terms of volume, 3.20 lakh shares of the company changed hands at BSE and over 27 lakh shares were traded at NSE during the day.
Net sales during the January-March quarter of 2015-16 rose to Rs 14,929.5 crore, up 12.5 per cent, against Rs 13,272.5 crore in the same period of 2014-15.
Car sales in the quarter were up 3.9 per cent at 3,60,402 units, the company said, adding that exports were at 27,009 units.
For the full fiscal ended March 31, 2016, MSI posted its highest ever annual net profit at Rs 4,571.4 crore, up 23.2 per cent, from Rs 3,711.2 crore in the previous fiscal. The previous highest net profit was Rs 3,711 crore in 2014-15 fiscal.
Maruti Suzuki today reported its first decline in profit in eight quarters with an 11.7 per cent dip in the period ended March 31, 2016, due to Jat quota agitation in Haryana and higher expenses although it posted a record profit in 2015-16 fiscal.
The company's net profit for the fourth quarter of 2015-16 stood at Rs 1,133.6 crore as against Rs 1,284.2 crore in the same period of the previous financial year. The last time the company had recorded a decline in its net profit was in the fourth quarter of 2013-14.
Launch of new models such as premium hatchback Baleno and SUV Vitara Brezza led to increase in advertising spend, the company said.
The company said its Board of Directors has recommended a dividend of 700 per cent per cent, Rs 35 per share of face value Rs 5 for 2015-16. The dividend in 2014-15 was at 500 per cent.
