Economy

Maruti Suzuki Q1 Profit after Tax more than doubles

Maruti Suzuki today reported a year-on-year profit after tax (PAT) of Rs 1012.80 crore for the quarter ended June 30, 2022, as against Rs 440.80 crore for the same period in 2021.

Net revenue for the quarter was Rs 25,286.3 crore as against 16,798.7 crore reported in the corresponding period last fiscal.

Sales volume stood at 4,67,931 units compared with 3,53,614 units in the same period last year.

Sales in the domestic market stood at 3,98,494 units while exports stood at 69,437 units. During the same period in 2021, the company had sold a total of 3,53,614 units including sales of 3,08,095 units in the domestic market and 45,519 units in the export market.

”Shortage of electronic components in this quarter resulted in about 51,000 vehicles not being produced. Pending customer orders stood at about 2,80,000 vehicles at the end of the quarter and the company is making efforts to serve these orders fast,” Maruti Suzuki said in a regulatory filing.

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