Maruti Suzuki Posts A Net Profit Of INR 440 Crore In Q1FY22

Maruti Suzuki, the largest carmaker in the country has posted a profit of INR 440 Crore in the first quarter of FY2022, compared to a loss of INR 2,49 Crore in the corresponding period last year.

“The profit for the Quarter 1 FY 2021-22 was primarily impacted due to lower sale volumes. Commodity prices increased steeply but the company continued to make efforts to reduce costs.” The company said in a statement.

The Company sold a total of 353,614 units during the Quarter. Sales in the domestic market stood at 308,095 units. Exports were at 45,519 units. During the same period previous year (Quarter 1 FY 2020-21), the Company sold a total of 76,599 units including sales of 67,027 units in domestic market and exports of 9,572 units. For reference, the total sales in Quarter1 FY2018-19 stood at 490,479 units.

“The second wave of the pandemic adversely impacted on the Q1 production and sales. While all parameters this quarter were substantially better than Q1 of FY2020-21, a comparison is not meaningful because Q1 last year had a much higher degree of disruption due to the pandemic. Sales in Q1 remain far below the previous high in Q1 of FY2018-19. “ the statement added.

During Quarter 1 FY 2021-22, the Company registered Net Sales of INR 167,98 Crore compared to Net sales of INR 36,77 Crore in Quarter 1 FY 2020-21.