Maruti Suzuki's standalone Q4FY21 net profit down 9.7%

NEW DELHI: Automobile major Maruti Suzuki India on Tuesday reported a decline of 9.7 per cent in profit during Q4FY21.

Accordingly, the company's net profit declined to Rs 1,166.1 crore from Rs 1,291.7 crore reported for the same period of previous fiscal.

The automobile major cited lower non-operating income owing to mark-to-market loss on invested surplus as one of the key reasons for the decline.

However, during the quarter, the company's net sales increased by 33.6 per cent to Rs 22,958.6 crore compared to the same period previous year.

Besides, the company reported a total sales of 492,235 vehicles during the quarter which was higher by 27.8 per cent compared to the same period previous year.

Furthermore, sales in the domestic market stood at 456,707 units, growing by 26.7 per cent.

Similarly, exports were at 35,528 units, higher by 44.4 per cent.

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. (IANS)

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