Q1FY20 Results: Maruti Suzuki net profit dips 27 per cent

Reflecting the distress faced by the auto industry, leading automaker Maruti Suzuki reported 27.3 per cent YoY dip in standalone net profit at Rs. 1,435.5 crore in the June quarter.

The company's standalone revenue for Q1FY20 came in at Rs. 19,719.8 crore as against Rs. 22,459.4 crore in Q1FY19, registering a decrease of 57.1 per cent YoY. EBITDA for the quarter was Rs. 2,049 crore as against Rs. 3,351.1 crore. EBITDA margin for the quarter stood at 10.4 per cent. This was on account of higher depreciation expense, lower capacity utilisation, higher sales promotion expense and adverse commodity prices. The PAT for the quarter came in at Rs. 1,435.5 crore as against Rs. 1,975.3 crore, decrease of 27.3 per cent YoY.

The automaker's domestic sales showed a de-growth of 19.3 per cent, with sales of 374,481 units, whereas exports grew by 5.5 per cent YoY at 28,113 units. The company has witnessed 17.9.3 per cent dip in sales volumes during the quarter with total sales of 402,594 units. Segmentally, in the domestic market, the Mini segment registered the steepest decline, down by 44.9 per cent, while LCVs grew by 34.8 per cent YoY.

On Friday, the stock opened at Rs. 5,737.00 per share and experiences huge volatility during the day to hit an intraday high of Rs. 5,955.25 and low of Rs. 5,685.15 per share. But the stock managed to close positive at Rs. 5,805.55 per share, up by 0.78 per cent on BSE.