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Maruti Suzuki’s stock is up 6% after it reported 4x net profit growth in the second quarter

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  • The automaker reported a fourfold increase in net profit to 2,061 crore in the second quarter.
  • Shares of the automaker rose 6% after it announced its results.
  • The company sold a total of 5.17 lakh vehicles during the quarter, the highest ever in any quarter.

India’s largest automaker Maruti Suzuki India reported a fourfold increase in net profit to 2,061 crore in the second quarter, from 475 crore in the same quarter last year.

During the quarter, the company recorded its highest ever quarterly revenue of 28,543 crore compared to ₹19,297 crore in the same quarter last year.

The company sold a total of 5.17 lakh vehicles during the quarter, the highest ever in any quarter.

Domestic sales were 4.54 lakh units while exports were 63,195 units.

The company said relatively better sales volume, leading to better capacity utilization, favorable currency movements, efforts to reduce costs and better realization helped margins.

Following this, the automaker’s shares rose nearly 6% after the company reported strong gains for July-September.

“The performance of the Maruti Suzuki Q2 was better than the street estimates. The new models – New Brezza, New Baleno and Vitara have gained good traction. Pending customer orders amounted to approximately 412k vehicles at the end of the quarter, of which 130,000 units were for the newly launched models. The company has addressed the white spaces in its portfolio with the launch of Brezza and Grand Vitara,” said Mansi Lall, Research Associate, Prabhudas Lilladher.

Particularities Q2 FY23 Q2 FY22
Net sales ₹28,543 crore ₹19,297 crore
Profit after taxes ₹2,061 crore ₹475 crore

The shortage of electronic components impacted production of approximately 35,000 vehicles in the quarter.

The same period last year was marked by an acute shortage of electronic components and as a result, the company was able to sell a total of 379,541 units, of which 320,133 units in the domestic market and 59,408 units in the export markets.

Furthermore, the company said that pending customer orders at the end of the quarter were about 4.12 lakh vehicles, of which about 1.30 lakh are car reservations for recently launched models.

Sales volumes Number % grow % to total sales
Domestic 4.54 lakh 41.9% 88%
export 63,195 6.4% 12%
Total sales 5.17 lakh 36.3% 100%


(With input from IANS)


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