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.
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