Today, the Board of Directors of Maruti Suzuki India Limited today approved the financial results for the fourth quarter (January – March 2016) and fiscal 2015-16. Where Maruti Suzuki sold a total of 360,402 vehicles in Q4, making a growth of 3.9 per cent, but the net profit in the quarter stood at Rs 11,336 million, a fall of 11.7 percent compared to a net profit of Rs 12,842 million in the same period of the previous financial year.
In a statement, MSIL said, “Loss of over 10,000 units due to reservation agitation, increased advertising expenses and lower other income slightly impacted profits during the quarter.” Though, the net sales of the company for the fourth quarter rose to Rs. 149,295 million, a rise of 12.5 percent against Rs 132,726 million of the same period of 2014-15. Moreover, the company exported 27,009 units of their products.
For the yearly highlights, Maruti Suzuki marked a net profit of at Rs 45,714 million, up 23.2 per cent as compared to the Rs 37,112 million in the fiscal 2014-15. While the net sales of the company stood at Rs 563,504 million in Apr-Mar 2015-16, up by 15.9 percent from Rs 486,055 million over the same period last year. Talking about the volume sales, Maruti Suzuki sold a total of 1,429,248 units, marking a growth of 10.6 percent, out of which 1,23,897 units were exported.
“The Board of Directors recommended a dividend of 700 per cent (Rs 35 per share of face value Rs 5) for 2015-16. The dividend in 2014-15 was at 500 per cent (Rs 25 per share of face value Rs. 5),” MSIL said in a statement.