Maruti Suzuki Q4 net profit up 10% to Rs 1,882 cr

The country's largest car maker Maruti Suzuki India on Friday reported a 10% rise in net profit to Rs 1,882.1 crore for the last quarter of fiscal ended on March 31, 2018.

The company had posted a net profit of Rs 1,710.5 crore in the January-March period of 2016-17, MSI said in a statement.

"Increase in effective tax rate impacted net profit," MSI said.

Net sales during the fourth quarter of 2017-18 rose to Rs 20,594.3 crore, up 14.4% against the year-ago period.

Total car sales were up 11.4% to 4,61,773 units, the company said.

For entire 2017-18, MSI posted net profit of Rs 7,721.8 crore, up 5.1%, from Rs 7,350.2 crore in the previous fiscal.

Net sales last fiscal stood at Rs 78,104.8 crore, up 16.7% from 2016-17.

Volume sales during 2017-18 were up 13.4% at 17,79,574 units. Of this, exports were at 1,26,074 units, the company said.

The company said its board has recommended a dividend of Rs 80 per share of face value Rs 5 for 2017-18.

MSI stock was trading 1.99% down at Rs 8,769.35 in the afternoon on the BSE