Maruti Suzuki Q3 Results
Published On: Tuesday, January 25, 2022 | By: Team KnowMyStock
The country's largest carmaker Maruti Suzuki India reported a 48 percent decline in consolidated net profit to Rs 1,011 crore for the December 2021 quarter, against a profit of Rs 1,941.4 crore in the same quarter last year, mainly due to the ongoing semiconductor shortage and increase in commodity prices. Analysts had expected Rs 1,058 crore. The consolidated revenue from operations declined marginally to Rs 23,253.3 crore in the third quarter, compared to Rs 23,471.3 crore a year ago, it added. The preceding quarter saw the topline at Rs 20,538 crore. 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 percent in Q3FY22 against 6.7 percent in Q3FY21. The profit margin was at 4.6 percent against 8.7 percent in the same quarter last year.
"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," Maruti, majority-owned by Japan's Suzuki Motor Corp, said in a statement. Demand, however, was strong, and the carmaker said it had more than 240,000 pending customer orders at the end of the third quarter. The company's scrip on BSE was trading 7% higher at Rs 8,663.
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