Maruti Suzuki Q2 FY22 Net Profit Drops 65% To 475 Crore Due To Chip Shortage

Maruti Suzuki India today released its financial results for the second quarter (Q2) of FY 2021-22, during which the company saw a net profit of Rs. 475 crore. Compared to Q2 FY 2020-21, when its net profit stood at Rs. 1,371 crore, the carmaker witnessed a decline of nearly 65 per cent, and the company says that this was mainly due to production constraints that were caused by a global shortage in the supply of electronic components. During the previous quarter that ended with September 30, 2021, Maruti Suzuki's net sales stood at Rs. 19,297 crore, a 9 per cent growth compared to Q2 FY 2020-21's net sales of Rs. 17,689 crore.

Also Read: Maruti Suzuki Production Down By 51% In September 2021 Due To Chip Shortage

Maruti Suzuki India's net profit for the first half (April-September 2021) of FY2022, stood at Rs. 916 crore

At the same time, the company's net profit for the first half (April-September 2021) of FY2022, stood at Rs. 916 crore, a decline of 18 per cent compared to Rs. 1,122 crore profits which were generated in the first half of FY2021. Here too the difference is mainly due to COVID related disruptions, which affected car sales in FY2021. Between April and September 2021, Maruti Suzuki India generated net sales of Rs. 36,096 crore, a growth of 40 per cent compared to the company's H1 FY2021 net sales of Rs. 21,366 crore.

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Maruti Suzuki India's total sales for Q2FY2022 stood a total of 379,541 units

During the July-September 2021 quarter, Maruti Suzuki India's total sales stood a total of 379,541 units, a marginal decline of 3.4 per cent compared to 393,130 units sold in Q2 FY2021. The company says that during this quarter, an estimated 116,000 vehicles could not be produced owing to the electronics component shortage mostly corresponding to the domestic models. By the end of the quarter, the company had more than 200,000 pending customer orders and it's currently working on expedited deliveries. As for H1 FY2022, the company sold a total of 733,155 units, a 56 per cent growth compared to 469,729 produced last year during the same period.

Maruti Suzuki India exported 104,927 units across from India, over 4x more compared to 32,083 units that were exported during the same period last fiscal year

Exports brought in the silver lining for Maruti Suzuki, which was otherwise mostly a dark cloud situation. The carmaker says that export sales were the highest ever in the company's history and the figures of the first half this year exceeded the full-year sales of last year. Between April and September 2021, Maruti Suzuki India exported 104,927 units across from India, over 4x more compared to 32,083 units which were exported during the same period last fiscal year. In fact, in Q2 FY2022, exports were at 59,408 units, the highest ever in any quarter.