Record sales drive Maruti Suzuki Q2 net over 4-fold to Rs 2,112.5 crore

NEW DELHI: Maruti Suzuki India on Friday reported an over four-fold increase in consolidated net profit to Rs 2,112.5 crore in the second quarter ended on September 30, 2022, riding on record sales. The company had posted a consolidated net profit of Rs 486.9 crore in the same period last fiscal, Maruti Suzuki India said in a regulatory filing. Total revenue from operations was at Rs 29,942.5 crore as against Rs 20,550.9 crore in the year-ago period. Maruti Suzuki said it sold a total of 5,17,395 vehicles during the quarter, its highest ever in any quarter. “Sales in the domestic market stood at 4,54,200 units. Exports were at 63,195 units. Shortage of electronic components impacted production by about 35,000 vehicles in this quarter,” it added. The same period previous year was marked by acute shortage of electronic components and consequently it could sell a total of 3,79,541 units, out of which 320,133 units were in the domestic market and 59,408 units were in export markets, Maruti Suzuki India said. The company it has been making simultaneous efforts in securing electronic components availability, cost reduction and improving realisation from the market to better its margins.