Q1FY21 results: Maruti Suzuki India net loss of Rs 268.3 crore

Maruti Suzuki India Ltd., an automobile manufacturing company, announced its quarterly results on July 29, 2020. The company posted a consolidated net loss of Rs 268.3 crore for Q1FY21, which declined by 119.49 per cent, as compared to Q1FY20 when it reported Rs 1,376.8 crore.                                                                                                                                                          

The consolidated net sales reported in Q1FY21 came in at Rs 4,110.6 crore, which declined by 79.17 per cent YoY from Rs 19,732.6 crore in Q1FY20. At EBITDA level, the company stood at negative Rs 865.2 crore in Q1FY21 that decreased by 142.21 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 2049.7 crore.                                                                                                                                                             

EBITDA margin as of Q1FY21 was at -21.05 per cent that declined by 31.44 per cent YoY. The net profit margin in Q1FY21 came in at -6.53 per cent, which declined by 13.51 per cent YoY. The net profit margin in Q1FY20 was at 6.98 per cent.

Due to the global pandemic of COVID-19, followed by lockdown stipulated by the government, the company had an unprecedented quarter, as large part of the quarter had zero production and zero sales. Production and sales started in a very small way in the month of May. Thus with carefully designed safety protocols, far beyond compliance levels, the production in the whole quarter was equivalent to just about two weeks of regular working.                     

The share closed with a decline of 1.62 per cent at Rs 6,185.60 on BSE.