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Maruti Suzuki share closes 2% higher despite weak Q4 earnings

Share price of Maruti Suzuki closed 1.72% higher at Rs 5,035 against previous close of Rs 4,950 on BSE

twitter-logoBusinessToday.In | May 13, 2020 | Updated 17:43 IST
Maruti Suzuki share closes 2% higher despite weak Q4 earnings
Maruti Suzuki stock stands higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages

Maruti Suzuki share price managed to close higher in trade today after the firm reported a 28 per cent fall in profit in Q4. Share price of Maruti Suzuki closed 1.72% higher at Rs 5,035 against previous close of Rs 4,950 on BSE. Maruti Suzuki share has gained 8.11% in last three days. The large cap stock opened with a gain of 5.45% at Rs 5,220. It touched an intraday high of Rs 5321.3 (7.5%)  on BSE.

Coronavirus lockdown: Maruti Suzuki resumes operations at Manesar plant after more than 40 days

Maruti Suzuki stock  stands higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages. It has lost 22.83% in last one year and fallen 31.65% since the beginning of this year. However, the stock has gained 4% in last one week.

Total 1.08 lakh shares changed hands amounting to turnover of Rs 55.75 crore shares on BSE. Net profit slipped 28.1 per cent to Rs 1,291 crore for the quarter ended March 31 2020 due to fall in sales and disruption in operations during March in the wake of coronavirus outbreak. In Q4 of corresponding fiscal, the company posted net profit of Rs 1,795.6 crore.

Maruti Suzuki results: FY 20 profit falls 24.7%; 17% decline in Q4 revenue

Revenue from operations declined 15.1 per cent to Rs 18,198 crore in Q4 FY'20 compared to Rs 21,459 crore in the Q4 FY'19.

Maruti Suzuki's domestic sales dropped 16 per cent at 360,428 units for the quarter ended March 31 from a year earlier. Profit in the last fiscal fell 24.7 per cent to Rs 5650 crore against Rs 7,500.6 crore a year ago. In FY'20, the company's overall standalone revenue from operations were recorded at Rs 75,610 crore, a slide of 12.1 per cent as against Rs 86,020.3 crore in FY19.

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