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Maruti Suzuki Q4 net down 11.7% at Rs 1,133.6 crore; shares up 4%

The company's sales volume slumped 3.7% after the Jat agitation in February forced the carmaker to shut its Manesar and Gurgaon plant for three days, resulting in a loss of 10,000 units.

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Maruti Suzuki's recently-launched Vitara Brezza. (Representational image)
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Maruti Suzuki's net profit has slumped 11.7% in the fourth quarter of FY16. The carmaker posted a profit of Rs 1,133.6 crore compared to Rs 1,284.2 crore in the same period last year, Bloomberg TV India has reported. 

The company's net sales were up 10.9% at Rs 15,300 crore in the quarter compared to Rs 13,625 crore.

The company's production was hampered in the quarter by the Jat reservation agitation when the carmaker was forced to suspend operations at its Manesar and Gurgaon plants which resulted in a loss of 10,000 units. 

Car sales in the quarter were up 3.9% at 3,60,402 units, the company said, adding that the exports were at 27,009 units.

While the other income of the carmaker slumped 62.2% to Rs 121 crore vs Rs 320 crore, the company's other expenses led by advertising to net sales was higher by 210 bps.

On year, the company's margins came down slightly at 15.3% compared to 15.9% in the year.

Maruti Suzuki has said that its material cost to net sales was down by 190bps.

Maruti has said that a jump in advertising cost and a fall other income for the carmaker impacted its profits in the last quarter of FY16. 

For the full fiscal ended March 31, MSI posted net profit of Rs 4,571.4 crore, up 23.2% from Rs 3,711.2 crore in the previous fiscal.

Net sales of the company for the fiscal stood at Rs 56,350.4 crore, up 15.9% from 48,605.5 crore last year.

Volume sales in the fiscal were up 10.6% at 1,429,248 units. Of this, exports were at 1,23,897 units, the company said.

The company said its Board of Directors has recommended a dividend of 700%, Rs 35 per share of face value Rs 5 for 2015-16. The dividend in 2014-15 was at 500%.

Going ahead, the carmaker says that global demand may remain weak but new launches may help it drive growth.

The company's share price after the result announcement was Rs 3,867 per share, up Rs 132.75 or 3.55% from previous day's close. The stock price inched over 4% intraday before coming slightly down.

(With PTI inputs)

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