Industry

Maruti Suzuki reports 2% rise in Q2 net profit at ₹1,419 cr

Maruti Suzuki logo is seen at a showroom in New Delhi. File   | Photo Credit: Reuters

The country’s largest carmaker Maruti Suzuki India (MSI) on Thursday reported 2.04% increase in its consolidated net profit for the second quarter at ₹1,419.6 crore on the back of higher sales.

The auto major had posted a net profit of ₹1,391.1 crore in the July-September quarter of the previous fiscal.

Total revenue from operations rose by 10.34 per cent to ₹18,755.6 crore for the second quarter as against ₹16,997.9 crore in the same period of 2019-20, MSI said in a statement.

During the second quarter, the performance improved on the back of some demand recovery and gradual improvement in supply conditions, the auto major said.

“Production across the company’s factories and supply chain was progressively ramped up consistent with our policy of maximum safety of the people and following all prescribed protocols to ensure this,” it added.

On a standalone basis, the company posted a net profit of ₹1,371.6 crore, up 1% compared to ₹1,358.6 crore in the same period of the previous fiscal.

Net sales stood at ₹17,689.3 crore for the period under review, up 9.7% from July-September period of 2019-20.

The firm said it sold 3,93,130 units during the September quarter, a growth of 16.2% over the year-ago period. This includes 3,70,619 units in the domestic market, a growth of 18.6%.

Exports during the quarter stood at 22,511 units, a decline of 12.7% over the same period of the previous fiscal.

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Printable version | Nov 30, 2020 5:00:36 PM | https://www.thehindu.com/business/Industry/maruti-suzuki-reports-2-rise-in-q2-net-profit-at-1419-cr/article32972312.ece

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