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Q1 2023 Results: Maruti’s profit up by 130 percent, TATA Motors’ loss increased

Highlights

Maruti’s Profit After Tax has increased by 129.76% to Rs 1012.8 crore on a yearly basis
Maruti’s net sales grew 50.52 per cent year-on-year to Rs 25,286.3 crore in the first quarter.
Tata Motors’ consolidated net loss widened to Rs 4,951 crore in the first quarter of the current fiscal.

New Delhi. The country’s two largest automakers, Maruti Suzuki and Tata Motors, on Wednesday, July 27, declared the results of the first quarter of the financial year 2023. Maruti Suzuki’s profit has increased by 130 percent in the first quarter and the company’s revenue has also seen a jump in this quarter. Not only this, the company PAT and net sales have also increased on an annual basis.

Tata Motors’ consolidated net loss widened to Rs 4,951 crore in the first quarter of the current fiscal. At the same time, the consolidated income of the company has increased by 8 percent. It stood at Rs 71,934.66 in the first quarter of the current financial year as against Rs 66,406.05 crore in the corresponding quarter of the previous financial year. The company’s Ebit margin has also declined by 4.4 percent. Similarly, sales of JLR, a British subsidiary of Tata Motors, also declined by 11.3 per cent on a year-on-year basis.

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maruti suzuki result
The profit of Maruti Suzuki has increased by 130 percent in the June quarter of the financial year 2023. The company made a profit of Rs 1036 crore in the June quarter. The company had a profit of Rs 475 crore in the same quarter last year. The company’s Profit After Tax has increased by 129.76% to Rs 1012.8 crore on a year-on-year basis from Rs 441 crore in the same quarter last year.

Maruti’s net sales grew 50.52 per cent year-on-year to Rs 25,286.3 crore in the first quarter. The company’s revenue increased to Rs 26,512 crore in the June quarter as against Rs 17,776 crore in the corresponding quarter of the previous financial year. Sales volume has increased from 3,53,614 units to 4,67,931 units on a year-on-year basis. The company’s Ebit margin has increased by 450 basis points to 5 per cent in the June quarter.

Tata Motors got a setback
Tata Motors’ consolidated net loss widened to Rs 4,951 crore in the first quarter of the current fiscal. Its loss in the same quarter a year ago was Rs 4,450 crore. Tata Motors’ consolidated operating income increased to Rs 71,935 crore in the period under review. It was Rs 66,406 crore in the same period a year ago.

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On a standalone basis, Tata Motors reported a net loss of Rs 181 crore in the first quarter, which is better than the same period last year. In the quarter April-June, 2021, the company’s loss on a standalone basis was Rs 1,321 crore. On a standalone basis, the company’s operating revenue stood at Rs 14,874 crore as against Rs 6,577 crore in the same period last year.

Tags: business news in hindi, Maruti Suzuki, Tata Motors

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