Maruti Suzuki profit soars 51pc to Rs 1,875 cr in Jan-Mar

The country’s largest carmaker Maruti Suzuki India on Friday reported a 51.14 per cent jump in consolidated net profit to Rs 1,875.8 crore in the fourth quarter ended on March 31, 2022.

The company had posted a consolidated net profit of Rs 1,241.1 crore in the same period of the previous fiscal, Maruti Suzuki India said in a regulatory filing.

Consolidated total revenue from operations stood at Rs 26,749.2 crore as against Rs 24,034.5 crore in the fourth quarter a year ago, it added.

Total vehicle sales in the quarter under review stood at 4,88,830 units, lower by 0.7 per cent compared to the same period previous year. Domestic sales were at 4,20,376 units, a decline of 8 per cent over that in Q4 FY21, the company said, adding exports were at 68,454 units which is the highest ever in any quarter.

For the fiscal ended March 31, 2022, the company said its consolidated net profit stood at Rs 3,879.5 crore as compared to Rs 4,389.1 crore in FY21, down 11.6 per cent. Consolidated total revenue from operations for FY22 was at Rs 88,329.8 crore as against Rs 70,372 crore in FY21, it added. The company sold a total of 16,52,653 vehicles during the year, up 13.4 per cent over the previous year, it said, adding domestic sales were at 14,14,277 units, up 3.9 per cent over FY 2020-21.

”Production during the year was impacted by shortage of electronic components by an estimated 2,70,000 vehicles, mostly domestic models, because of which there were pending customer bookings of about 268,000 vehicles at the end of the year,” Maruti Suzuki said. In addition, the first quarter witnessed a disruption owing to the second covid wave, it said.