Maruti Suzuki India skids after weak Q4 results

Maruti Suzuki India fell 1.70% to Rs 6904.95 at 15:12 IST on BSE after net profit fell 4.6% to Rs 1795.60 crore on 0.7% increase in net sales to Rs 20737.50 crore in Q4 March 2019 over Q4 March 2018.

The result was announced during trading hours today, 25 April 2019.

Meanwhile, the S&P BSE Sensex was down 378.16 points, or 0.97% to 38,676.52.

On the BSE, 1.43 lakh shares were traded in the counter so far compared with average daily volumes of 57,000 shares in the past two weeks. The stock had hit a high of Rs 7145.20 and a low of Rs 6880 so far during the day. The stock hit a 52-week high of Rs 9,922.85 on 24 July 2018. The stock hit a 52-week low of Rs 6,324.35 on 28 January 2019.

Total vehicle sales fell 0.7% to 4,58,479 units in Q4 March 2019 over Q4 March 2018.

This quarter was marked by adverse foreign exchange rates and commodity prices, higher depreciation and higher sales promotion expenses partially offset by cost reduction efforts, the company said.

In a separate statement issued during trading hours today, 25 April 2019, Maruti Suzuki India announced that the ex-showroom price of Baleno RS Petrol variant and Diesel variants will be hiked with immediate effect.

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