Maruti Suzuki Q4 Profit up by 15.8%
The company sold 1,568,603 vehicles in 2016-17 with a growth 9.8 percent and the exports were at 124,062 units.
Corporate office of Maruti Suzuki India Limited is pictured in New Delhi (Image: Reuters)
Maruti Suzuki India Ltd. saw a 15 percent growth in the Q4 with approximately 414,439 sold vehicles and 31,771 exported vehicles. The net sales of the company stood at Rs 180.052 million with a growth of 20.3 percent over the same period the previous year, the recorded profit was slightly below the expectations.
Company's net profit in the fourth quarter stood at Rs 17.090 million with the growth 15.8 percent compared to the last year.
As per the company Growth in volumes, increase the share of the Company’s higher segment models, benefits due to full capacity utilization and cost reduction efforts contributed to increasing in profits. This was partially offset by an increase in commodity prices and adverse forex movement.
Looking at the full year, the company sold 1,568,603 vehicles in 2016-17 with a growth 9.8 percent and the exports were at 124,062 units. Company’s yearly net profit stood at Rs 73.377 million, up by 36.8 percent.
Higher non-operating income and several initiatives for cost reduction contributed to increasing in profit. At the same time, increase in commodity prices and adverse forex movement partially impacted the annual financial performance.
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