Maruti Q4 net dips 35%, but full year sees record

  • HT Correspondent, Hindustan Times, New Delhi
  • Updated: Apr 26, 2014 00:28 IST

India’s largest car maker, Maruti Suzuki, on Friday reported a 35.5% fall in net profit to Rs 800.05 crore for the quarter ended March 31, missing analyst estimates, as a protracted slowdown and increased expenses on marketing and advertising eroded its profitability.

Net sales also declined during the quarter by 9.48% to Rs 11,818.13 crore on the back of a 5.5% year-on-year decline in sales volume to 324,870 units.

Ironically, the government’s excise duty cut in mid-February, to boost sales, backfired for Maruti as it had to compensate its dealers to the tune of Rs 143 crore for existing inventory.

“The market conditions in this fiscal are not very different from last year,” said RC Bhargava, chairman, MSIL. “We are hoping that after elections, under the new government, there will be an improvement in the economy though it may not be very dramatic.”

For the full year 2013-14, Maruti’s net profit grew 15.53% to Rs 2,852.92 crore, its highest ever, from Rs 2,469.28 crore in 2012-13. The previous record was Rs 2,497.6 crore seen in 2009-10.

The company said it will launch 3 new cars in 2014-15 including mid-size sedan Ciaz showcased at the Auto Expo.

It also said it will approach its minority shareholders for an approval to allow a Suzuki subsidiary to build and operate its upcoming Gujarat factory by August or September.

From Around the Web
Sponsored by Revcontent

also read

Maruti Q1 profit soars 23% to Rs 1,486 crore
Show comments

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Chrome and Ad BlockPlus users

1.Press the ‘ABP’ icon in your toolbar at top right of this page

2. Click on ‘Enabled on this site’; this should now change to ‘Disabled on this site’


chrome



For Chrome and Ad Block users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don’t run on pages on this domain’ and then click ‘exclude’ on the pop up


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Mozilla and AdBlock Plus (ABP) users

1.Press the ‘ABP’ icon in your toolbar

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Internet Explorer and AdBlock Plus users

1.Press the ‘AdBlock Plus’ icon in your status bar at the bottom of the screen

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Safari and AdBlock users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don't run pages on this domain’ and then click 'exclude'


chrome