Maruti Suzuki reports 20.4% YoY rise in Q4 sales at Rs 20,423 crore

NEW DELHI: India's largest carmaker Maruti Suzuki on Thursday reported a 15.8% increase in net profit at Rs 1709 crore for the fourth quarter ended March 31, 2017.

The company had registered net profit of Rs 1,476.2 crore in the year-ago period.

Revenues from sale of products went up by a strong 20.4% to Rs 20,423 crore in the period under review as against Rs 16,958.4 crore registered in the corresponding period of the previous financial year.

Brokerage firm Motilal Oswal had estimated the company to report 17% increase in net profit at Rs 1,820 crore.

The company's average realisation was expected to improve on back of improved product mix given the demand for new models Brezza and Baleno. Net revenues in the period under review was expected to grow by 22% to Rs 18640 crore. However, margins were expected to contract by 80 basis points to 14.6% due to higher fixed cost on account of commissioning of the Gujarat plant.