Maruti Suzuki Q1 Results: Here's All You Need To Know
On a sequential basis, Maruti Suzuki's standalone net profit declined 62.19 per cent, compared to Rs 1,166 crore reported in the preceding January-March quarter of the financial year 2020-21. (Track Maruti Suzuki share price here)
Maruti Suzuki sold a total of 353,614 units during the April-June quarter. The sales in the domestic market stood at 308,095 units, and exports were at 45,519 units, according to its statement.
The revenue from operations for the June quarter stood at Rs 17,770.7 crore in the June quarter, compared to Rs 4,106.5 crore in the same quarter last year, marking a growth of 332.72 per cent year-on-year.
In June 2021, its total sales - including domestic sales and export stood at 1,47,368 units, compared to 57,428 units sold in the corresponding month last year, registering a growth of 157 per cent year-on-year.
Maruti Suzuki missed estimates for quarterly profit margins, according to news agency Reuters. The rising costs of raw materials restricted the revival in demand for vehicles during the quarter.
The company's total income in the June quarter stood at Rs 18.2 crore, compared to Rs 5.4 crore in the year-ago period, and Rs 24.11 crore in the preceding January-March quarter.
Maruti Suzuki and its global peers came under pressure due to surging prices of commodities including steel and copper. Due to this, the company tried to preserve its margins and reduce costs.
On Wednesday, July 28, shares of Maruti Suzuki settled 1.26 per cent lower at Rs 7,150.20 apiece on the BSE