Maruti Suzuki net profit more than doubles on larger sales volume
The Hindu
India’s largest carmaker Maruti Suzuki reports a 145% increase in net profit, driven by higher net sales sales volume, cost reduction efforts, and improved realisations. Shortages of electronic components affected production but pending orders are being addressed
Maruti Suzuki India Ltd. reported first quarter net profit more than doubled to ₹2,485 crore from ₹1.012.8 crore in the year-earlier period.
“This was on account of large sales volume, improved realisations, cost reduction efforts and higher non-operating income,” the company said in a filing with the exchanges.
During the quarter ended June, India’s largest carmaker reported 27% higher net sales income of ₹30,845 crore.
The company sold a total of 4,98,030 units during the quarter, higher by 6.4% compared with the same period in the previous year.
Sales in the domestic market rose 9.1% to 434,812 units from the year-earlier period.
Export sales were lower at 63,218 units compared with 69,437 units.
The company said shortages of electronic components in the quarter resulted in 28,000 vehicles not being produced. Pending customer orders stood at about units at the end of the quarter.The company said it was trying to serve those orders faster.
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