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    Maruti Suzuki reports net profit of Rs 440 crore in Q1FY22

    Synopsis

    The company had posted a net loss of Rs 249.4 crore in the corresponding period of the last financial year. Analysts had expected Maruti Suzuki to register a standalone net profit of Rs 787-987 crore in the first quarter of the ongoing financial year.

    Maruti Suzuki
    Net sales last quarter stood at Rs 16798.70 crore, as against Rs 3677.5 crore reported in the year-ago period. Total expenses rose to Rs 17715 crore, from Rs 5770.5 crore in Q1FY21.
    New Delhi: The country’s largest carmaker Maruti Suzuki Wednesday missed street estimates to report a standalone net profit of Rs 440 crore for the first quarter ended June 30, 2021.

    The company had posted a net loss of Rs 249.4 crore in the corresponding period of the last financial year. Analysts had expected Maruti Suzuki to register a standalone net profit of Rs 787-987 crore in the first quarter of the ongoing financial year.

    “The profit for the Q1 FY 2021-22 was primarily impacted due to lower sale volumes. Commodity prices increased steeply but the company continued to make efforts to reduce costs”, Maruti Suzuki said in a statement.

    Net sales last quarter stood at Rs 16798.70 crore, as against Rs 3677.5 crore reported in the year-ago period. Total expenses rose to Rs 17715 crore, from Rs 5770.5 crore in Q1FY21.

    The statement added, “The second wave of the pandemic adversely impacted on the Q1 production and sales. While all parameters this quarter were substantially better than Q1 of FY2020-21, a comparison is not meaningful because Q1 last year had a much higher degree of disruption due to the pandemic. Sales in Q1 remain far below the previous high in Q1 of FY2018-19.”

    Maruti Suzuki sold 353,614 units during the quarter under consideration. While sales in the domestic market stood at 308,095 units, exports were at 45,519 units. During the same period the previous year (Quarter 1 FY 2020- 21), the company sold a total of 76,599 units including sales of 67,027 units in the domestic market and exports of 9,572 units. For reference, the total sales in Q1 FY2018-19 stood at 490,479 units.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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