Mark-to-market losses dent Maruti bottomline in Q4

Mark-to-market losses dent Maruti bottomline in Q4 [ad_1]

New Delhi: The nation’s largest automotive maker Tuesday reported 9.7% drop in web revenue at Rs 1166.1 crore for the fourth quarter ended March 31, 2021 because of decrease non-operating revenue owing to mark-to-market loss on invested surplus.

The firm had posted web revenue of Rs 1291.7 crore in the corresponding interval of the earlier monetary 12 months.

Revenues from operations elevated to Rs 24023.7 crore in the interval underneath evaluate – which is a rise of 32% over Rs 18198.7 crore recorded in the year-ago interval.

The operating profit for the quarter into account stood at Rs 1250.1 crore, a development of 72.8% over the identical interval earlier 12 months on account of upper gross sales quantity and price discount efforts regardless of steep commodity worth enhance.

The firm offered 492,235 autos final quarter, which is a rise of 27.8% in comparison with the identical interval earlier 12 months. Sales in the home market stood at 456,707 items, rising by 26.7%. Exports had been at 35,528 items, increased by 44.4%.

“It may be recalled that in Quarter 4 (FY 2019-20) of the previous year there was a significant decline in the sales volume largely owing to COVID-19 lockdown”, the corporate stated in a press release.

In line with the financial performance of the 12 months and contemplating unsure enterprise setting, the Board of Directors really useful a dividend of Rs 45 per share (face worth of INR 5 per share) for FY 2020-21.

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