India’s largest carmaker — Maruti Suzuki on Wednesday reported a net profit of Rs 440.8 crore in the first quarter of the financial year 2021-22, as against a Rs 249.4 crore loss in the same period a year ago. While on a sequential basis, the profit slumped 62 per cent from Rs 1166.1 crore in Q4 FY21.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

While the auto major posted a four-fold jump in the revenue to Rs 17,770.7 crore in the June-ended quarter as compared to Rs 4106.5 crore in the same period a year ago, while it fell by 26 per cent from Rs 24,034.5 crore on a quarter-on-quarter (QoQ) basis.

See Zee Business Live TV Streaming Below:

The company in its result presentation said, “The production and sales in Q1 FY22 were significantly affected due to the pandemic related disruptions. These parameters were substantially higher than those in Q1FY21 which had a much more severe impact of the COVID-19 disruptions.”

The company sold a total of 3,53,614 units during the April-June quarter, whereas the sales in the domestic market stood at 3,08,095 units while exports were at 45,519 units.

In value terms, the company registered net sales of Rs 16,798.7 crore in Q1FY22 against net sales of Rs 3,677.5 crore in Q1FY21.

On year-on-year, the company in its positives mentioned, “Relatively better sales volume leading to improved capacity utilisation; lower sales promotion expenses and increase in selling prices and cost reduction efforts. While adverse commodity prices and lower non-operating income are negatives.

The company in result commentary said, “Neither quarter was a normal one, comparing the financial results of Quarter 1 FY 2021-22 with that of Quarter 1 FY 2020-21 and Quarter four of FY 2020-21 would not be very meaningful.”

Ahead of its Q1 results, the stock fell marginally by over 1 per cent to Rs 7,150 per share on the BSE, as compared to 0.26 per cent decline in the S&P BSE Sensex on Wednesday.