Maruti Suzuki’s net profit more than doubles in October-December quarter

New Delhi [India]Jan 24 (ANI): Automaker Maruti Suzuki India reported a net profit of Rs 2,351 crore during the October-December 2022 quarter (Q3 FY23), nearly 132 per cent higher than what it reported in the same quarter last year.

In Q2FY22 (October-December 2021), the net profit stood at Rs 1,011 crore.

Besides this, the auto major’s revenue from operations during the quarter stood at Rs 29,044 crore as compared to Rs 23,246 crore in the same quarter of the previous fiscal. Revenue was up nearly 25 percent year-over-year.

The board of directors of Maruti Suzuki India Limited on Tuesday approved the financial results for October-December 2022.

The company sold a total of 465,911 vehicles during the quarter ended December. Accordingly, sales in the domestic market stood at 403,929 units and exports at 61,982 units, it said in its earnings report.

“Shortage of electronic components affected the production of around 46,000 vehicles in the quarter. This was against total sales of 430,668 units, including domestic and 64,995 units in the same period last year.

Pending customer orders at the end of December quarter stood at around 363,000 vehicles, of which around 119,000 orders were for newly launched models.

During the April-December period, the company sold a total of over 1.45 million units. Sales in the domestic market stood at 1.25 million units. Exports stood at 194,614 units.

During the same period of 2021, the company registered total sales of 1.16 million units including 993,901 units in the domestic market and 169,922 units in the export market. (ANI)

This report has been auto generated from ANI News Service. ThePrint is not responsible for its content.