(Mint)
(Mint)

Maruti Suzuki lines up Rs4,500 crore capex for current fiscal

  • The investment will go into various initiatives, including new product development, R&D and land acquisition for sales network
  • Maruti Suzuki had earmarked a capex of Rs4,000 crore for 2018-19

New Delhi: Maruti Suzuki India (MSI) Thursday said it has earmarked a capex of Rs4,500 crore for the current fiscal.

The investment will go into various initiatives, including new product development, R&D and land acquisition for sales network, MSI CFO Ajay Seth told reporters here.

MSI had earmarked a capex of 4,000 crore for 2018-19.

Maruti Suzuki today reported a fall in net profit for the fourth quarter ended March 31, hurt by industry-wide weak demand. The carmaker's net profit fell by 4.6% to 1,795.6 crore in the same period previous year.

This quarter was marked by adverse foreign exchange rates and commodity prices, higher depreciation and higher sales promotion expenses, partially offset by cost reduction efforts, the company said.

During the quarter, Maruti registered net sales of 20,737.5 crore, up by 0.7% over the same period previous year.

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