The Board of Directors of Maruti Suzuki India Limited today approved the financial results for the period Jan-Mar 2018 (Quarter 4) and April-March 2017-18 (full year).
Highlights: Quarter 4 (January-March) 2017-18
The Company sold a total of 461,773 vehicles during the Quarter, a growth of 11.4 per cent over the same period of the previous year. Sales in the domestic market stood at 427,082 units, a growth of 11.6 per cent. Exports were at 34,691 units.
During the Quarter, the Company registered Net Sales of Rs. 205,943 million, up 14.4 per cent over the same period previous year.
The operating profit was Rs 23,125 million, a growth of 24.4 per cent over the same period previous year on account of higher sales volume, cost reduction efforts, partially offset by adverse commodity prices & higher advertisement expenses.
Net profit in Q4 (2017-18) stood at Rs 18,821 million, up 10 per cent compared to the same period last year. Increase in effective tax rate impacted net profit.
Highlights: Full year (April-March) 2017-18
The Company sold a total of 1,779,574 vehicles in FY 2017-18, a growth of 13.4 per cent. Sales in the domestic market stood at 1,653,500 units a growth of 14.5 per cent. Exports were at 126,074 units.
The Company’s net sales stood at Rs 781,048 million in FY 2017-18, a growth of 16.7 per cent over the same period last year.
The operating profit was Rs 93,036 million, a growth of 20.1 per cent over the same period previous year on account of higher sales volume, and cost reduction efforts, partially offset by adverse commodity prices.
Net profit for the year stood at Rs 77,218 million, up 5.1 per cent.
Increase in effective tax rates and lower non-operating income due to mark-to-market impact on the invested sur, compared to last year impacted net profit.
The Board of Directors recommended a dividend of Rs. 80/- per share of face value Rs. 5/-, for 2017-18. The dividend in 2016-17 was Rs. 75/- per share of face value of Rs. 5/-.
Initiatives to mark 35th anniversary
To commemorate the 35th Anniversary of the Company, the Board gave its in-principle approval for establishing an Employee Welfare Fund, and a Trust to promote Scientific Research and Technology in India. After formal approval by the Board, the Fund and the Trust shall be established later this year. Thereafter MSIL will contribute 1% of the Profit After Tax of the previous year to each of the Fund and the Trust.