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Maruti Suzuki Q2 net profit jumps 333 per cent YoY to Rs 2,061 crore

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India’s net profit has jumped by 333 per cent to Rs 2061.5 crore in Q2 of FY23 compared to the corresponding period of last year on the back of the resolution of chip supply issues, favourable foreign exchange rates and highest-ever unit sales.


“The company sold a total of 517,395 vehicles during the quarter, the highest ever in any quarter. Sales in the domestic market stood at 454,200 units,” its statement said.


Therefore, the company also posted the highest-ever sales revenue of Rs 28,545 crore in Q2 of FY23.


The company said 76.5 per cent of its sales revenue was spent behind “material cost” in Q2 this year compared to 80.4 per cent in Q2 last year.


Exports stood at 63,195 units in Q2 this year. Shortage of electronic components (chips) impacted production by about 35,000 vehicles in this quarter, it noted.


“The same period previous year was marked by acute shortage of electronic components (chips) and consequently the company could sell a total of 379,541 units comprising 320,133 units in domestic and 59,408 units in export markets,” it mentioned.


In its presentation, the company said the key reasons for profits in Q2 this year as compared to Q2 last year were:


  1. “Relatively better sales volume leading to improved capacity utilisation”

  2. Favourable foreign exchange variation

  3. Cost reduction efforts and “improved realisation”


It considered higher advertisement expenses and higher power and fuel expenses as negative factors affecting margins in Q2 this year.


Pending customer orders stood at about 412,000 vehicles at the end of Q2, out of which about 130,000 vehicle pre-bookings are for recently launched models.

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