Maruti Suzuki Sheds 2% Post June Quarter Results

Maruti Suzuki reported a net profit of Rs 440.8 crore for the quarter ended June 2022, compared to a net loss of Rs 249.4 crore in corresponding quarter last year

Maruti Suzuki Sheds 2% Post June Quarter Results

At 2:10 pm, Maruti Suzuki shares were trading lower by 1.96 per cent on the BSE

Maruti Suzuki shares have shed 2 per cent in a strong market a day after the country's largest car maker posted its numbers for the quarter ended June 2021. On Wednesday, the auto major reported a net profit of Rs 440.8 crore for the quarter ended June 2022, compared to a net loss of Rs 249.4 crore in the corresponding quarter last year. At 2:10 pm, Maruti Suzuki shares were trading at Rs 7010, lower by 1.96 per cent, on the BSE.

Maruti Suzuki's production and sales in the first quarter of the current fiscal were impacted by the second wave of the COVID-19 pandemic, the company said in a regulatory filing to the stock exchanges.

Maruti Suzuki'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.

The company's revenues 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.

The BSE Sensex was trading at 52,692.07, higher by 247 points or 0.49 per cent and the NSE Nifty was at 15,788.50, up 0.51 per cent at the time.