Maruti Suzuki Reports Q1 FY2022 Net Profit At Rs. 440.8 Crore; Sales Impacted Due To Second Wave

Maruti Suzuki reported a net profit of Rs. 440.8 crore in the first quarter (April - June) of FY2021-22, compared to a loss of Rs. 249.4 crore in Q1 FY2020-21. Total revenue from operations stood at Rs. 17,776 crore as compared to Rs. 4,111 crore in Q1 last fiscal. The company said that its profit was primarily impacted due to the lower sales volumes. Moreover, commodity prices increased steeply but it continued to make efforts to reduce costs, the automaker said in a statement. Maruti Suzuki's net sales for Q1 FY2021-22 stood at Rs. 16,798.7 crore, which is a substantial hike when compared to a net sale of Rs. 3,677.5 crore in Q1 FY2020-21.

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Maruti Suzuki's domestic sales stood at 308,095 units, while exports stood at 45,519 units

Maruti Suzuki says that the second wave of the pandemic adversely impacted the Q1 production and sales. The company did post better results than the same period last year. That said, the comparison doesn't exactly hold once you consider the higher degree of disruption due to the pandemic during this period last year.

Maruti Suzuki sold a total of 353,614 units during the last quarter. Domestic sales stood at 308,095 units, while exports stood at 45,519 units. Meanwhile, the company sold 76,599 units during the last Q1 FY 2020-21, which comprises 67,027 units in the domestic market and exports of 9,572 units. The volumes though are substantially low when compared to the total sales in Q1 FY2018-19 that stood at 490,479 units.