Maruti Suzuki has made a net profit of 2,061.5 crores in the July-September quarter.
In the September quarter of last year, the company had a profit of Rs 475.3 crore.
The operating revenue of the company grew by 46 per cent to reach Rs 29,931 crore.
New Delhi. The automobile industry, which was braked in the Corona period, has started gaining momentum again. Seeing the sales of this festive season, it seems that the Indian auto industry is starting to boom again. The country’s largest automaker said on Friday that its quarterly profit has increased four times this time. The highest share in this is the record sales made in the festive season.
Maruti Suzuki India said that it has a net profit of Rs 2,061.5 crore in the July-September quarter. This is an increase of four times as compared to the same quarter last year. If we talk about the September quarter of last year, then the company had a profit of Rs 475.3 crore. During this period, the operating revenue of the company grew by about 46 percent and it has reached Rs 29,931 crore.
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36% more sales than last year
Maruti Suzuki India said that due to the festive season in the September quarter this year, its vehicle sales have increased by 36 percent. During this period, the company has sold a total of 517,395 units of cars, which is the record for sales in any quarter so far. This includes 4.54 lakh vehicles sold in the domestic market as well as 63,195 vehicles exported in foreign markets. This demand has increased due to the opening of the market after the epidemic and the improvement on the employment front.
Millions of orders are pending now
The sale of vehicles in the festive season is such that there are no vehicles left in the showrooms and customers have to wait for months for delivery. Maruti Suzuki said that it has pending delivery of 4.12 lakh vehicles, whose orders have been received till September. Out of this, 1.30 vehicles are of recently launched models. The delivery of these vehicles may take a few months.
Where has the highest cost increased
Maruti said that although there has been a tremendous increase in its profits due to record sales, but the cost has increased in many places. On the one hand, the company has taken advantage of tools like foreign exchange and has reduced its cost, but during the same time the expenditure on advertisements has increased significantly. Apart from this, the cost of power and fuel also increased significantly, which has increased the cost of production.
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FIRST PUBLISHED : October 28, 2022, 15:28 IST