Maruti Suzuki’s Profit Fell 48 Percent In The Quarter Of FY 2022

Maruti Suzuki’s profit fell 48 percent in the quarter of FY 2022: The company got a setback.

Veteran automaker Maruti Suzuki India’s net profit for the third quarter of FY22 declined by over 47 percent year-on-year to Rs 1,011.3 crore from Rs 1,941.4 crore in the third quarter of FY21.

The company says that the reason behind this decline is the shortage of semiconductors and the increase in the cost of manufacturing the vehicle.

Sales rate drop.

The sales rate of Maruti Suzuki India has registered a decline as the company’s net sales fell to Rs 22,187.6 crore from Rs 22,236.7 crore in the third quarter of FY22, due to which the company is facing a loss.

Company Statement.

The auto major said in a statement that the company sold a total of 430,668 units during the quarter, down from 495,897 units in the same period last year.

Due to the global shortage of semiconductors, not only the company but the industry has suffered a lot. Due to this, an estimated 90,000 units could not be produced.

Domestic market sales.

Talking about the sales of the domestic market, the company sold 365,673 units in this quarter, as compared to 467,369 units were sold in the third quarter of FY21.

Maruti Suzuki’s profit fell 48 percent in the quarter of FY 2022: Vehicle demand continues.

According to the company, there was no deceleration in the demand for the vehicles as the company had over 240,000 customer orders in the waiting period at the end of the quarter.

However, still unpredictable, the electronics supply situation is gradually improving. The company expects to ramp up production in the fourth quarter.

Further, in the quarter under review, the company exported an all-time high of 64,995 units as compared to 28,528 units in the third quarter of FY21.

This was 66 percent higher than the previous peak exports in any third quarter.