New Delhi: Maruti Suzuki India Limited (Maruti), the largest passenger vehicle manufacturer in India, on today, April 29 reported a growth of 58 percent year-on- year in its net profit after tax (PAT) at Rs 1,839 crore as compared to a PAT of Rs 1,166 crore registered in the corresponding quarter of the previous fiscal.
Maruti, which sells every second car in India and is majority-owned by Japan’s Suzuki Motor Corp, has hiked prices five times from January 2021 to April 2022.
On Friday, Maruti shares were trading marginally higher at ₹7,891.80 apiece on NSE.
The consolidated revenue for the company rose 11 percent on-year to Rs 26,749 crore as compared to Rs 24,035 crore registered in the year-ago quarter. On a sequential basis, the revenue was higher by 15 percent from Rs 23,253 crore recorded in the previous quarter.
“The prices of commodities such as steel, aluminium and precious metals witnessed an unprecedented increase during this year. The Company was forced to increase prices of vehicles to partially offset this impact,” Maruti said in a filing.
The volumes continued to be impacted by the semi-conductor shortage and the demand environment. The growth in sales was also impacted by the lack of presence in fast growing sports utility vehicle (SUV).
For the full year period from April – March 2022, the consolidated PAT has witnessed a decline of 12 percent at Rs 3,879 crore compared to a profit of Rs 4,389 crore achieved during FY21.
Maruti said the Board has recommended a final dividend of ₹60 per share for the year FY22.
Consolidated revenue for FY22 jumped 26 percent to Rs 88,330 crore from the revenue of Rs 70,372 crore reported in the last year.
The stock has generated returns of 20 percent in the past one year and has gained 6 percent in the past one month.