Maruti Suzuki's Q2 net profit rises over 4-fold to ₹2,061.5 cr, highest ever quarterly sales
1 min read . Updated: 28 Oct 2022, 02:46 PM IST
Premium- Maruti Suzuki's revenue from operations was grew by 46 per cent to ₹29,931 crore
India's largest carmaker Maruti Suzuki on Friday posted a net profit nearly four folds higher at ₹2,061.5 crore for the September quarter. The company posted a net profit of ₹475.3 crore in the corresponding quarter last fiscal.
Maruti Suzuki revenue from operations was grew by 46 per cent to ₹29,931 crore for the quarter under review.
The total sales volume for the quarter was 36 per cent higher than the previous year at 517,395 units, the highest ever in any quarter. It comprised of a domestic sales of 4.54 lakh units and exports at 63,195 units.
Better sales volume due to pick-up in demand improved capacity utilisation which aided profitability.
"Relatively better sales volume leading to improved capacity utilisation, favourable foreign exchange variation, cost reduction efforts, and improved realisation boosted margin performance, though impacted by higher advertisement cost, and higher power and fuel expenses," the Maruti Suzuki said in its filing.
The company said that pending customer orders stood at about 412,000 units at the end of September FY23 quarter, of which about 130,000 vehicle pre-bookings were for recently launched models.
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