Maruti Suzuki India (MSI) Ltd. Friday reported a 58% rise in fourth-quarter internet revenue as value hikes and decrease gross sales promotion prices helped the nation’s prime carmaker outweigh the affect of excessive uncooked materials prices and world semiconductor shortages.
India’s largest carmaker recorded a internet revenue of ₹1,839 crore within the January-March interval. It was ₹1,166 crore within the corresponding interval of final 12 months.
Maruti, which sells each second automotive in India and is majority-owned by Japan’s Suzuki Motor Corp, has hiked costs 5 instances from January 2021 to April 2022.
On Friday, Maruti shares had been buying and selling marginally greater at ₹7,891.80 apiece on NSE.
Sales, in the meantime, rose 11% year-on-year to ₹25,514 crore in the course of the quarter beneath overview.
“The costs of commodities comparable to metal, aluminium and treasured metals witnessed an unprecedented enhance throughout this 12 months. The Company was compelled to extend costs of automobiles to partially offset this affect,” Maruti stated in a submitting.
Maruti stated it continued to work on price discount efforts to minimise the affect on prospects.
The Company offered a complete of 488,830 automobiles in the course of the quarter, decrease by 0.7% in comparison with the identical interval earlier 12 months.
Maruti’s EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization) margin – a key measure of profitability – stood at 9.08%
Maruti stated the Board has beneficial a remaining dividend of ₹60 per share for the 12 months FY22.
In the reporting quarter, the gross sales within the home market stood at 420,376 items, a decline of 8% over final 12 months interval. The gross sales within the export market had been at 68,454 items which is the best ever in any quarter.