Maruti has posted lower profit in January-March quarter on higher tax and lower other income. The four-wheeler major's net profit fell 11.7 percent in Q4FY16 at Rs 1133.6 crore from Rs 1284.2 crore in corresponding quarter last fiscal.
During the quarter, total income rose 12.3 percent at Rs 15306 crore in Q4 against Rs 13624.8 crore year-on-year. In Q4, other income fell to Rs 121.2 crore against Rs 320 crore on annual basis.
The company has said that loss of 10,000 units due to reservation agitation, increased advertising expenses and lower other income slightly impacted profits this quarter.
According to a CNBC-TV18 poll, profit was seen falling 3.4 percent year-on-year to Rs 1,240 crore in Q4 and revenue was expected to increase 9.2 percent to Rs 14,885 crore in Q4.
Tax expenses incurred, during the quarter, jumped to Rs 556.5 crore versus Rs 437.3 crore (YoY).
During the quarter, EBITDA was up 8.5 percent at Rs 2350 crore compared to Rs 2165 Crore while EBITDA margin stood at 15.3 percent against 15.8 percent (YoY). However, the auto major's finance cost fell to Rs 20.3 crore in Q4 compared to Rs 102.7 crore (YoY). Realisations grew 5 percent at 4.2 lakh per unit versus 4 lakhper unit quarter-on-quarter.The board of directors recommended a dividend of 700 percent at Rs 35 per share.
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