Maruti Suzuki Q4 Net Profit Zooms 48 pc YoY; Company Approves 2500 pc Dividend for Shareholders
Photo : PTI
Maruti Suzuki reported a 47.8 per cent rise in net profit on Friday for the March quarter of FY24 to Rs 3,877.8 crore, on account of higher sales volume and favourable commodity prices. The country’s largest car maker had reported a net profit of Rs 2,623.6 crore in the year-ago period. The auto major has also announced to reward the shareholders with a dividend
Maruti Suzuki Dividend 2024
The company in a regulatory filing declared to distribute 2500 per cent dividend to the shareholders. The dividend amount is always calculated on the face value of a stock and not on the market price. The current face value of each stock of Maruti Suzuki is Rs 5, which translates to Rs 125 per equity share.
“The Board of Directors at their meeting considered and recommended a final dividend aggregating INR 39,300 million i.e. INR 125 per share (Nominal value INR 5.00 per share) (previous year INR 27,187 million i.e. INR 90 per share) for the financial year 2023-24 which is subject to the approval of the members at the ensuing Annual General Meeting,” the company informed the exchanges.
Maruti Suzuki Dividend Payment Date
The date of payment of dividend is 3rd September, 2024 subject to the approval of the shareholders at annual general meeting which is scheduled to be held on 27th August, 2024.
Maruti Suzuki Q4 Results
In the complete financial year, the standalone profit after tax reached Rs 13,209 crore, showing a significant increase of over 64% compared to the Rs 8,049 crore reported in the previous fiscal year, FY23. Total revenue from operations for the entire financial year ending on March 31, 2024, was Rs 1,40,933 crore, marking a 20% year-on-year increase from Rs 1,17,523 crore.
The country’s largest car maker surpassed annual total sales milestone of 2 million units in FY24. The company continued to be the top exporter for the third consecutive year, now contributing 41.8 per cent of total passenger vehicle exports from India. The counter settled in red in Friday’s trading session to quote at Rs 12,760 apiece on the NSE, down marginally by 1.26 per cent.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Today Technology Market ResearchDigital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
