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India’s largest carmaker Maruti Suzuki on Friday posted a net profit nearly four folds higher at ₹2,061.5 crore for the September quarter. The company posted a net profit of ₹475.3 crore in the corresponding quarter last fiscal.
Maruti Suzuki revenue from operations was grew by 46 per cent to ₹29,931 crore for the quarter under review.
The total sales volume for the quarter was 36 per cent higher than the previous year at 517,395 units, the highest ever in any quarter. It comprised of a domestic sales of 4.54 lakh units and exports at 63,195 units.
Better sales volume due to pick-up in demand improved capacity utilisation which aided profitability.
“Relatively better sales volume leading to improved capacity utilisation, favourable foreign exchange variation, cost reduction efforts, and improved realisation boosted margin performance, though impacted by higher advertisement cost, and higher power and fuel expenses,” the Maruti Suzuki said in its filing.
The company said that pending customer orders stood at about 412,000 units at the end of September FY23 quarter, of which about 130,000 vehicle pre-bookings were for recently launched models.
Maruti Suzuki said it is taking steps to secure the availability of electronic components, reduce costs and improve realisation in order to further improve margins. Shortage of electronic components impacted production by about 35,000 vehicles during the quarter.
The stock was up by 3.90 per cent to ₹9,399.35 on the BSE.
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John Miller has been writing about science, gaming, and tech culture for over a decade. He’s a top-rated reviewer with extensive experience helping people find the best deals on tech and more.
