Maruti Q4 net vaults over 60% to Rs1,284 crore

Maruti Suzuki India Limited has reported a net profit of Rs1,284.2 crore for the quarter ended 31 March 2015, an year-on-year increase of 60.5 per cent, helped by higher volume sales, a reduction in material cost, favorable foreign exchange and lower sales promotion expenses.

During the January-March 2015 quarter, the country's largest carmaker said its quarterly sales grew 6.7 per cent to 346,712 vehicles, including 29,542 units exported, which in turn grew 12.4 per cent year-on-year.

The company's net sales during the quarter stood at Rs13,272.6 crore, a gain of 12.3 per cent over the same period last fiscal.

Maruti Suzuki reported a net profit of Rs3,711.2 crore for the financial year ended 31 March 2015, a gain of 33.4 per cent compared to 2013-14.

The board of directors has recommended a dividend of 500 per cent (Rs25 per share of face value Rs5) for 2014-15. The dividend in 2013-14 was at 240 per cent. (Rs12 per share of face value Rs5).

The company sold a total of 1,292,415 units during the year, a growth of 11.9 per cent over the previous year. Of this, exports accounted for 121,713 units, a gain of 20.1 per cent.Net sales (net of excise) stood at Rs48,605.5 crore, a gain of 14 per cent over the previous year.

Higher volumes, favourable foreign exchange and material cost reduction initiatives contributed to the bottom line performance, the company said in a release.

Maruti also benefited as the yen fell about 1.2 per cent against the rupee in the period, reducing the cost of components from Japan.