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Maruti Suzuki shares decline over 1 pc after Q4 earnings

·2-min read

New Delhi, Apr 27 (PTI) Shares of Maruti Suzuki India (MSI) on Tuesday dipped over 1 per cent after the company reported 6.14 per cent decline in consolidated net profit for the fourth quarter ended March 31, 2021.

The stock declined 1.24 per cent to close at Rs 6,558.20 on the BSE. During the day, it tumbled 1.51 per cent to Rs 6,540.

On the NSE, it dipped 1.30 per cent to close at Rs 6,552.

The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday reported 6.14 per cent decline in consolidated net profit at Rs 1,241.1 crore for the fourth quarter ended March 31, 2021.

The auto major had posted a net profit of Rs 1,322.3 crore in the January-March quarter of 2019-20, MSI said in a regulatory filing.

However, revenue from the sale of products stood at Rs 22,959.8 crore as compared with Rs 17,187.3 crore earlier, up 33.58 per cent.

The company said it sold a total of 4,92,235 vehicles during the fourth quarter, higher by 27.8 per cent as compared to the same period the previous year.

Sales in the domestic market stood at 4,56,707 units, up by 26.7 per cent. Exports were at 35,528 units.

On a standalone basis, the auto major said it reported a net profit of Rs 1,166.1 crore, down 9.7 per cent from the same period of the previous fiscal, due to lower non-operating income owing to mark-to-market loss on invested surplus.

Net sales stood at Rs 22,958.6 crore on a standalone basis, an increase of 33.6 per cent compared to the same period the previous year, it added.

For the year 2020-21 fiscal, the company reported a 22.69 per cent decline in its consolidated net profit at Rs 4,389.1 crore, as compared with Rs 5,677.6 crore in 2019-20.

Consolidated revenue from the sale of products declined to Rs 66,571.8 crore, as against Rs 71,704.8 crore in financial year 2020, it added. PTI SUM SHW SHW

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