New Delhi: The nation’s largest automobile maker Maruti Suzuki India (MSI) on Wednesday reported a 27.77 p.c decline in consolidated web revenue to Rs 1,322.three crore for the fourth quarter of 2019-20, on account of decrease gross sales quantity, greater promotion bills and depreciation bills.
The corporate had posted a web revenue of Rs 1,830.eight crore within the January-March interval of 2018-19, MSI stated in an announcement.
For your entire 2019-20 fiscal, MSI posted a web revenue of Rs 5,677.6 crore, down 25.78 per cent from Rs 7,650.6 crore within the 2018-19. Internet gross sales final fiscal stood at Rs 75,660.6 crore as towards Rs 86,068.5 crore in 2018-19.
Maruti stated that the Board of Administrators at their assembly thought-about and really useful a ultimate dividend aggregating Rs 18,125 million i.e. Rs 60 per share (Nominal worth Rs 5.00 per share) for the monetary 12 months 2019-20. Ultimate dividend is topic to approval of shareholders, MSI stated.
Internet gross sales through the quarter declined to Rs 18,207.7 crore, down 15.2 per cent from Rs 21,473.1 crore within the year-ago interval.
Whole automobile gross sales through the fourth quarter declined by 16 per cent to three,85,025 items as in comparison with the identical interval of 2018-19. Whole quantity gross sales throughout 2019-20 have been down 16.1 per cent to 15,63,297 items. Of this, 1,02,171 items have been exported, the corporate stated.
The corporate stated profitability was hit through the fiscal on account of decrease gross sales quantity, greater gross sales promotion bills and depreciation bills.
It was partially offset by decrease working bills, price discount efforts, greater honest worth positive aspects on invested surplus and discount in company tax fee, it added.
“The Firm has carried out sensitivity evaluation on the assumptions used and primarily based on present estimates expects the carrying quantity of those property will probably be recovered. The affect of COVID-19 on the Firm’s monetary outcomes could differ from that estimated as on the date of approval of those monetary outcomes,” MSI stated.