Maruti Suzuki ProfitThe country’s largest carmaker Maruti Suzuki India (MSI) has more than doubled its consolidated net profit to Rs 1,036 crore for the first quarter ended June of the current financial year. The company had made a net profit of Rs 475 crore in the April-June quarter of the financial year 2021-22 affected by Kovid-19.
MSI said its total sales during the quarter increased to Rs 26,512 crore from Rs 17,776 crore in the corresponding quarter of the previous fiscal. The company said that its performance in the first quarter of 2021-22 was affected due to the pandemic. In such a situation, it cannot be done on equal basis from the first quarter of the current financial year.
Maruti sold 4,67,931 vehicles during the June quarter. In the same period a year ago, the company sold 3,53,614 vehicles. According to the statement, the company’s sales in the domestic market stood at 3,98,494 units in the April-June quarter of the current financial year. During this time the company exported 69,437 vehicles.
Maruti Suzuki’s net profit on a standalone basis rose to Rs 1,013 crore in the quarter under review. It was Rs 440 crore in the same quarter a year ago. The company’s net income also increased to Rs 25,286 crore in the April-June quarter from Rs 16,799 crore in the same quarter of the previous fiscal.
Maruti said that there was a loss of production of about 51,000 units in the first quarter of 2022-23 due to semiconductor shortage. The company has pending booking orders for 2,80,000 units till the end of June quarter. Meanwhile, shares of Maruti Suzuki closed at Rs 8,660.05, up 1.62 per cent on the BSE.