Maruti Suzuki Q1 profit up at Rs 441 crore, sales up four-fold

Maruti Suzuki India on Wednesday reported a standalone net profit of Rs 441 crore for the April to June quarter (Q1 FY22) despite adverse commodity prices and Covid-19 related disruptions leading to lower capacity utilisation.

Maruti Suzuki India on Wednesday reported a standalone net profit of Rs 441 crore for the April to June quarter (Q1 FY22) despite adverse commodity prices and Covid-19 related disruptions leading to lower capacity utilisation. The company had posted a net loss of Rs 249 crore in the year-ago period. Sequentially, however, the profit declined 62 per cent from Rs 1,166 crore profit reported in the March quarter of FY21.

It said the operations and financial results were adversely impacted by outbreak of Covid-19 pandemic and consequent lockdown announced by state governments. Operations were suspended for part of the quarter and gradually resumed with requisite precautions. Maruti Suzuki sold 3.53 lakh units during Q1 FY22. Sales in the domestic market stood at 3.08 lakh units while exports were at 45,519 units.

During the same period of previous year, the company had sold a total of 76,599 units including sales of 67,027 units in domestic market and exports of 9,572 units. Significantly, Maruti Suzuki reported net sales of Rs 16,799 crore during Q1 FY22 compared with Rs 3,678 crore in Q1 FY21, marking a four-fold jump. (ANI)

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