India’s largest carmaker Maruti Suzuki on Friday reported nearly four times higher net profit 2,061.5 crore for the September quarter. The company posted a net profit of 475.3 crore in the corresponding quarter of the last financial year.
maruti suzuki There was a 46 percent increase in revenue from operations 29,931 crore for the quarter under review.
Total sales volume for the quarter stood at 517,395 units, up 36 per cent over the previous year, the highest in any quarter. This included domestic sales of 4.54 lakh units and exports of 63,195 units.
Better sales Capacity utilization improved due to increased demand, which helped profitability.
Maruti Suzuki in its filing said, “Improvement in capacity utilization due to relatively better sales volumes, favorable foreign exchange variation, cost reduction efforts and better realizations boosted margin performance, though higher advertising costs and higher power and fuel affected by the cost.”
The company said the pending customer orders at the end of the September FY23 quarter stood at around 412,000 units, of which around 130,000 vehicle pre-bookings were for the recently launched models.
maruti suzuki The company said it is taking steps to ensure availability of electronic components, reduce costs and improve realization to further improve margins. The shortage of electronic components affected production of around 35,000 vehicles during the quarter.
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