Maruti Suzuki: The country’s largest carmaker reported a 66 per cent decline in net profit in the second quarter.

Business Desk, Amar Ujala, New Delhi

Published by: Mukesh Kumar Jha
Wednesday, 27 October 2021 Updated to 03:40 PM IST

Summary

Maruti Suzuki India’s net profit fell 66 per cent to Rs 487 crore in the second quarter.

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Net profit fell 66 per cent to Rs. Maruti Suzuki India, the country’s largest carmaker, on Wednesday said it has reached Rs 487 crore. The company had posted a net profit of Rs 1,420 crore in the second quarter of last fiscal. Total vehicle sales in the second quarter fell three per cent to 3,79,541 units from 3,93,130 units in the same period last fiscal. The company said manufacturing was affected by a semiconductor shortage during the period under review. Apart from this, Maruti’s profits were also affected due to the rise in commodity prices. Cumulative income from operations during the quarter under review was Rs. 20,551 crore, compared to Rs. 18,756 crores.

Highest exports in the second quarter
However, the company exported 59,408 units in the second quarter, up from 22,511 units in the same quarter a year ago, the highest in the company’s history. The company said it could not produce nearly 1.16 lakh vehicles, in line with domestic models, due to lack of electronics components. Maruti Suzuki India has over 2 lakh customer orders pending at the end of the quarter, for which it is making every effort to expedite deliveries. The company had sold a total of 7,33,155 units in the first half of the financial year ended September 30, compared to 6,28,228 units domestically. The company had exported 32,083 units during the same period last fiscal, up from 1,04,927 units in the year – ago period.

Expansion

Net profit fell 66 per cent to Rs. Maruti Suzuki India, the country’s largest carmaker, on Wednesday said it has reached Rs 487 crore. The company had posted a net profit of Rs 1,420 crore in the second quarter of last fiscal. Total vehicle sales in the second quarter fell three per cent to 3,79,541 units from 3,93,130 units in the same period last fiscal. The company said manufacturing was affected by a semiconductor shortage during the period under review. Apart from this, Maruti’s profit was also affected due to the rise in commodity prices. Cumulative income from operations during the quarter under review was Rs. 20,551 crore, compared to Rs. 18,756 crores.

Highest exports in the second quarter

However, the company exported 59,408 units in the second quarter, up from 22,511 units in the same quarter a year ago, the highest in the company’s history. The company said it could not produce nearly 1.16 lakh vehicles, in line with domestic models, due to lack of electronics components. Maruti Suzuki India has over 2 lakh customer orders pending at the end of the quarter, for which it is making every effort to expedite deliveries. The company had sold a total of 7,33,155 units in the first half of the financial year ended September 30, compared to 6,28,228 units domestically. The company had exported 32,083 units during the same period last fiscal, up from 1,04,927 units in the same period last fiscal.

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