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Maruti Suzuki India's Net Profit Grows 24% To ₹ 1,941 Crore In Q3 FY2021

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In the quarter that ended with December 31, 2020, Maruti Suzuki India's net profit stood at Rs. 1,941 crore a good 24.1 per cent growth compared to the same period last fiscal year. The company's net income for the period was Rs. 22,236 crore.

Between October and December 2020, Maruti Suzuki's net income stood at Rs. 22,236 crore expand View Photos
Between October and December 2020, Maruti Suzuki's net income stood at Rs. 22,236 crore

Highlights

  • Maruti Suzuki ended Q3 with a net profit of Rs. 1,941 crore
  • Maruti Suzuki India sold a total of 495,897 vehicles in Q3 FY21
  • Between April & December 2020 the net profit was Rs. 3,063 crore

Maruti Suzuki India, the country's largest car manufacturer, has released its financial results for the third quarter of Financial Year 2020-21 (Q3 FY21). In the quarter that ended with December 31, 2020, the company's net profit stood at ₹ 1,941 crore a good 24.1 per cent growth compared to the same period last fiscal year, when it registered a profit of ₹ 1,564 crore. Between October and December 2020, the carmaker's net income stood at ₹ 22,236 crore, an increase of 13.2 per cent compared to the third quarter of Financial Year 2019-20, when the revenue was ₹ 19,649 crore.

Also Read: Maruti Suzuki Hikes Prices Due To Higher Costs

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Maruti Suzuki India sold a total of 495,897 vehicles during the October and December 2020 period

Maruti Suzuki said that the operating profit for the quarter was at ₹ 14,84 crore, a growth of 19.3 per cent compared to the same October to December period in 2019. The company said that it was due to the higher sales volume and cost reduction efforts partially offset by an increase in commodity prices and adverse foreign exchange movement.

Also Read: Maruti Suzuki Swift Surpasses 23 Lakh Unit Sales Milestone

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During the same October and December 2020 period, Maruti Suzuki India sold a total of 495,897 vehicles, witnessing a growth of 13.4 per cent compared to the same period in the previous fiscal year. Sales in the domestic market alone stood at 467,369 units, growing by 13 per cent, while exports went up by 20.6 per cent at 28,528 units.

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Between April and December 2020, the company's consolidated net profit was ₹ 3,063 crore, down by 29.7 per cent against the previous year

Also Read: Maruti Suzuki Jimny Exports Begin From India

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As for Year To Date (YTD) numbers, between April and December 2020, the company's consolidated net profit was ₹ 3,063 crore, a decline of 29.7 per cent compared to ₹ 4,358 crore profit the company registered in the same period, the previous year. During the last nine months, Maruti Suzuki registered net sales of ₹ 43,603 crore, down by 20 per cent compared to ₹ 54,504 crore revenue the company achieved in the same period previous fiscal year. Also, between April and December 2020, the carmaker sold a total of 965,626 vehicles, a decline of 18 per cent compared to the same period the previous year. Sales in the domestic market stood at 905,015 units, lower by 17.8 per cent, while exports fell by nearly 22 per cent at 60,611 units.

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