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Maruti Suzuki announces strong earnings results, Shares fall

Share price of Maruti Suzuki India fall in spite of 10 pc rise in net profit

India’s largest automaker Maruti Suzuki (India) Limited today (Friday) announced the Quarter 4 financial results for the period Jan-Mar 2018 and April-March 2017-18.

The net profit stood at Rs. 18,821 million, which is up by 10% compared to the corresponding period last year.

The company sold a total of 4,61,773 vehicles during the quarter, which indicated a growth of 11.4% over the same period of the previous year.

Sales in the domestic market figured at 4,27,082 units, a growth of 11.6% while exports were at 34,691 units. During the quarter the company registered net sales of Rs. 205,943 million, up 14.4% over the same period previous year.

The Board of Maruti Suzuki India Limited recommended a dividend of Rs 80.00 per equity share for the face value of Rs. 5.00 each.

On Friday’s closing, stock of Maruti Suzuki India Limited ended down by 1.90% at Rs. 8777.95 on the exchange. The stock opened at Rs. 9,013 per share and touched an intra-day high of Rs. 9,142 and a low of Rs. 8,721.10, on the BSE.

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