Maruti Suzuki today announced its Q4 results of 2017-18 and its net profit stood at Rs. 18,821 million, which is up by 10 per cent compared to the same period last year. This profit is lower than what the market expected but Maruti Suzuki has attributed this drop to the increase in effective tax rate. The company sold a total of 461,773 vehicles during the quarter, which showed a growth of 11.4 per cent over the same period of the previous year. Sales in the domestic market stood at 427,082 units, a growth of 11.6 per cent while exports were at 34,691 units. During the quarter, Maruti Suzuki registered net sales of Rs. 205,943 million, up 14.4 per cent over the same period previous year. In fact, the company also announced that it's market share has gone up by 2.7 per cent which sees the company take a large share of the pie and it's market share is now 50 per cent.
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The company sold a total of 1,779,574 vehicles in FY 2017-18, a growth of 13.4 per cent. Sales in the domestic market stood at 1,653,500 units a growth of 14.5 per cent while exports stood at 126,074 units. Net profit for the year stood at Rs 77,218 million, up 5.1 per cent. Increase in effective tax rates and lower non-operating income due to mark-to-market impact on the invested surplus, compared to last year impacted net profit.
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The operating profit was Rs 93,036 million, a growth of 20.1 per cent over the same period previous year on account of higher sales volume, and cost reduction efforts, partially offset by adverse commodity prices.
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The company has been a dominant player in the UV space as also the subcompact sedan and premium hatchback segment. The Dzire has been raking in the sales for the company and now the Swift too is adding to that tally. The company is now looking to extend its portfolio further with some new models in the coming year as also focusing on electric mobility.
