Record sales drive Maruti Suzuki Q2 net to over 4-fold rise at ₹2,112.5 crore
The Hindu
Total revenue from operations was at ₹29,942.5 crore as against ₹20,550.9 crore in the year-ago period.
Maruti Suzuki India on Friday reported an over four-fold increase in consolidated net profit to ₹2,112.5 crore in the second quarter that ended September 30, 2022, riding on record sales.
The company had posted a consolidated net profit of ₹486.9 crore in the same period last fiscal, Maruti Suzuki India Limited (MSIL) said in a regulatory filing.
Total revenue from operations was at ₹29,942.5 crore as against ₹20,550.9 crore in the year-ago period.
MSIL said it sold a total of 5,17,395 vehicles during the quarter, its highest ever in any quarter.
"Sales in the domestic market stood at 4,54,200 units. Exports were at 63,195 units. Shortage of electronic components impacted production by about 35,000 vehicles in this quarter," it added.
The company said the year-ago quarter was marked by an acute shortage of electronic components and consequently it could sell a total of 3,79,541 units, out of which 320,133 units were in the domestic market and 59,408 units were in export markets.
In a virtual press conference, MSIL Chairman R.C. Bhargava said challenges such as COVID-19 impact and shortage of electronic components which had seriously affected growth in the past were not there during the second quarter, thereby resulting in good growth.
India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
Non-Resident Indians (NRIs) from the Gulf Cooperation Council (GCC) region, once prominent investors in the Indian equity market are seen shying away due to rupee depreciation and have moved to global funds, said a top financial services executive.
Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.
Indian stock markets closed lower amid volatility, with key firms lagging as global trends influenced trading activity.
Bharti and Warburg Pincus invest in Haier India, acquiring a 49% stake to enhance growth and innovation in consumer durables.
India's net FDI remains negative for October 2025, with outflows surpassing inflows amid trade deal uncertainties.
Bombay High Court halts fraud notices to Anil Ambani, questioning banks' compliance and the audit's validity.
Explore the key business events that defined India in 2025, from trade wars to regulatory reforms and corporate expansions.
The rarely-used eight-unit Fisk power plant owned by Houston-based NRG Energy was scheduled to retire next year. But then came from artificial intelligence.
The rupee gains 12 paise to 89.51 against the U.S. dollar, buoyed by RBI's liquidity support.
In a recent conversation with Dwarak Rajagopal, Head of AI Research at Snowflake, what stood out was not optimism or scepticism, but maturity.
Explore how India's export landscape is increasingly dominated by a few states, revealing regional disparities and structural challenges.