Maruti Suzuki India, the country's largest passenger car manufacturer, reported a 9.7 percent on-year fall in net profit for the fourth quarter of fiscal 2021 dragged by lower non-operating income.
The company posted a net profit of Rs 1,166.1 crore in the quarter ended March 2021 as compared to Rs 1,291.7 crore in the year-ago period. Net profit missed CNBC-TV18 Analysts' poll estimates of Rs 1,668 crore.
The company's revenue from operations in Q4FY21 rose 32 percent to Rs 24,023.7 crore from Rs 18,198.7 crore in Q4FY20.
The company sold a total of 492,235 vehicles during the quarter, higher by 27.8 percent compared to the same period the previous year. Sales in the domestic market stood at 456,707 units, growing by 26.7 percent. Exports were at 35,528 units, higher by 44.4 percent.
"It may be recalled that in Quarter 4 (FY 2019-20) of the previous year there was a significant decline in the sales volume largely owing to COVID-19 lockdown," the company said in a regulatory filing.
On the operational front, EBITDA during the quarter increased 28.8 percent to Rs 1,991.4 crore from Rs 1,546.3 crore, while EBITDA margin contracted by 20 bps to 8.3 percent from 8.5 percent, YoY.
Key factors behind the fall in margin were adverse commodity prices, adverse foreign exchange fluctuation and lower fair value gains on invested surplus, the company said.
Maruti Suzuki's board approved a dividend of Rs 45 per share.
At 2:30 pm, the shares of Maruti Suzuki India were trading 0.63 percent higher at Rs 6,682.40 apiece on the BSE.
First Published: IST