India’s largest car maker 







Maruti Suzuk o
n Tuesday reported a net profit of Rs 1,011 crore, down 47.90 per cent year-on-year (YoY) against a profit of Rs 1,941.4 crore in the same quarter last year. 

The company said despite cost reduction efforts, due to lower sales volume, high commodity prices and lower non-operating income on account of mark-to-market impact, its profits were comparatively lower.

Operating Ebit margin came in at 4.1 per cent in Q3FY22 against 6.7 per cent in Q3FY21. Profit margin was at 4.6 per cent against 8.7 per cent in same quarter last year.

The company insisted that its results were not comparable given in the second and third quarter, the performance of the company was impacted due to electronic component shortages.

The company sold a total of 4,30,668 units during the quarter, lower than 4,95,897 units in the same period, last year. In the domestic market, the sales stood at 3,65,673 units in the quarter against 467,369 units in Q3FY21.
“There was no lack of demand as the company had more than 240,000 pending customer orders at the end of the quarter. Production was constrained by a global shortage in the supply of electronic components because of which an estimated 90,000 units could not be produced,” said the firm.

“Though still unpredictable, the electronics supply situation is improving gradually. The company hopes to increase production in Q4, though it would not reach full capacity,” it added.

The carmaker said it clocked its highest ever exports at 64,995 units as compared to 28,528 units in Q3 FY21. This was also 66 per cent higher than the previous peak exports in any Q3.