Maruti Q4 net profit falls 3 per cent to Rs640 crore

Maruti Suzuki Ltd, India's largest car manufacturer, has reported a three per cent drop in its fiscal fourth quarter (January-March 2011-12) profit, at Rs640 crore, against Rs659.9 crore during the similar quarter of the previous year.

Net sales during the quarter were up 17 per cent at Rs11,486 crore, with volume rising 5 per cent to 3.6 lakh units.

For the financial year 2011-12, Maruti Suzuki reported a net profit of Rs1,635 crore against a net profit of Rs2,288.7 crore in the previous year.

Net sales declined 3.2 per cent to Rs34,705.9 crore during the year from Rs35,849 crore during the previous year.

Total sales volume was down 10.8 per cent at 1,133,695 units during the year 2011-12 against 1,271,005 units sold in 2010-11.

Domestic sales were down 11.2 per cent at 1,006,316 units during the year against 1,132,739 units in 2010-11 while exports fell 7.9 per cent to 127,379 units in 2011-12 from 138,266 units in the previous year.

''For the year, the company's bottomline was impacted by adverse currency movement and increased commodity prices. The overall slowdown in the car market, including the skew towards diesel cars, also affected performance,'' the company said in a release.

The board of directors of the company recommended a dividend of 150 per cent (Rs7.50 per share of face value Rs5) for 2011-12. The dividend in 2010-11 was also at 150 per cent.