Maruti Q3 net almost halves to ₹1,042 cr. as chip shortage bites
The Hindu
Company aims to boost output in Q4 as electronics supply ‘improving gradually’
Maruti Suzuki India Ltd. on Tuesday reported a 47.8% fall in third-quarter consolidated net profit to ₹1,041.8 crore, mainly due to the adverse impact of the ongoing semiconductor shortage on production and sales.
“Production was constrained by a global shortage in the supply of electronic components because of which an estimated 90,000 units could not be produced,” India’s largest carmaker said, adding that there was no lack of demand as the company had more than 2,40,000 pending customer orders at the end of the December quarter.
More Related News