Maruti Suzuki share price was trading higher today after the firm said it has delivered more than 5,000 cars in the past few days after being allowed to open showrooms at some locations. Of 3,086 showrooms, more than 1,350 showrooms of Maruti are now operational, the company said.
Share price of Maruti Suzuki rose 3.73% to Rs 4,899 against previous close of Rs 4,723 on BSE. Maruti Suzuki share has gained after 2 days of consecutive fall. The large cap stock opened with a gain of 2.35% at Rs 4,834. Maruti Suzuki stock is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
It has lost 28 % in last one year and fallen 34.44% since the beginning of this year. The stock has lost 2.43% in last one week. Total 0.37 lakh shares changed hands amounting to turnover of Rs 17.80 crore on BSE.
Country's largest car maker Maruti Suzuki has a network of 3,086 showrooms across 1,964 towns and cities.
"All of them will abide by the new safety protocols. The remaining showrooms would open in due course if they are not in a containment zone or if not specifically restricted by any local guidelines," the company said. Maruti Suzuki India on March 23 stopped production of vehicles at its various plants as a precaution against the spread of life-threatening coronavirus. The company has put in place comprehensive standard operating procedures (SoPs) for its dealerships for the safety of its customers and employees, it added.
In Q4 of last fiscal, net profit slipped 28.1 per cent to Rs 1,291 crore 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.
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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