India’s largest home car producer Maruti Suzuki India on Wednesday reported a standalone web revenue of Rs 440.8 crore for April-June quarter of FY22 (Q1FY22), hit by elevated tax bills and decrease sale volumes. The firm had posted a web lack of Rs 249.4 crore within the year-ago interval.
Sequentially, nevertheless, the revenue declined 62.19 per cent from Rs 1,166.1-crore revenue reported within the March quarter of FY21 as auto gross sales remained disrupted on account of localised lockdown throughout April and May.
“The company’s operations and financial results for the quarter ended June 30, 2021 have been adversely impacted by the outbreak of Covid-19 pandemic and the consequent lockdown announced by the State Governments due to which the operations were suspended for part of the quarter and gradually resumed with requisite precautions,” the corporate stated in an announcement.
Maruti Suzuki offered a complete of 353,614 items through the quarter below research. Sales within the home market stood at 308,095 items whereas exports have been at 45,519 items. In comparability, throughout the identical interval earlier yr, the corporate had offered a complete of 76,599 items together with gross sales of 67,027 items in home market and exports of 9,572 items.
The scrip of the Delhi-based automaker slipped 2.4 per cent to Rs 7,064 apiece within the intra-day offers however ultimately closed at Rs 7,150, down 1 per cent, as the underside line quantity missed Street estimates.
Analysts, on a mean, had anticipated a standalone web revenue anyplace between Rs 787 crore and Rs 987.7 crore. However, the outlier figures on the acute ends pegged the identical at Rs 426 crore and Rs 1,097.4 crore. READ ANALYSTS EXPECTATIONS HERE
Operationally, Maruti Suzuki India reported income of Rs 17,770.7 crore throughout Q1, in contrast with Rs 4,106.5 crore within the year-ago interval, translating right into a 332.72 per cent rise. On a quarterly foundation, the earnings tumbled 26 per cent from Rs 24,023.7 crore.
Ebitda (earnings earlier than curiosity, tax, depreciation, and amortisation), in the meantime, got here in at Rs 821 crore, down 58.7 per cent QoQ, from Rs 1,991 crore clocked in Q4FY21. Ebitda loss stood at Rs 863.4 crore within the corresponding quarter of the earlier fiscal.
Consensus estimate for Ebitda was at Rs 1,094 crore with excessive deviations at Rs 860.5 crore and Rs 1,209 crore.
As anticipated, Ebitda margins contracted 370 foundation factors sequentially to 4.6 per cent from 8.3 per cent on larger commodity costs and poor working leverage. Margins have been -21 per cent in Q1FY21.