Maruti Suzuki Profit Declined: The country’s largest carmaker Maruti Suzuki India has reported a decline of Rs 1,041.8 crore in its total profit for the third quarter ended December 2021, down 47.82 percent. Global semiconductor shortages and rising commodity prices have had an impact on sales, and are said to be the main reasons for the decline.
Maruti Suzuki India in a regulatory filing said it had posted a profit of Rs 1,996.7 crore in the October-December period of the previous fiscal. The decline in profit is now due to lower sales volumes, higher commodity prices and mark-to-market effect. Revenue declined marginally to Rs 23,253.3 crore in the third quarter from Rs 23,471.3 crore in the year-ago period, the filing said.
Thousands of orders pending
Not only this, the total vehicle sales in the third quarter declined by 13.1 percent to 4,30,668 units as against 4,95,897 units in the same period last fiscal. Maruti Suzuki said on the subject that its production during the third quarter was disrupted due to global shortfall in supply of electronic components, due to which 90,000 units could not be produced.
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At the same time, there was no slack in demand as the company had over 2,40,000 customer orders pending at the end of the quarter. However, the electronics supply situation is still improving gradually. The company expects to ramp up production in the fourth quarter, although it will still not reach full capacity.”
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