Maruti Suzuki Q2 Results: Maruti Suzuki Quadruples Earnings, Q2 Net Profit of 2,061.5 crore, shares jump

[ad_1]

Last year’s low base is also one of the reasons for Maruti Suzuki’s huge profit jump. The net profit of the company in July-September 2021 was Rs 475.3 crore.

Maruti Suzuki India Q2FY23 results: The country’s largest car company Maruti Suzuki India announced excellent results in the second quarter. According to the results announced on Friday, the company’s own net income for the three months from July to September 2022 increased by 334 percent compared to the same period last year. Fewer supply issues and last year’s low base are the main reasons for this huge jump.

The impact of improving the situation on performance

In the second quarter of the current fiscal year, Maruti Suzuki India posted a net profit of Rs 2,061.5 crore compared to Rs 475.3 crore for the same period last year. In fact, the company’s earnings were hit hard last year by high raw material prices and a shortage of chips. This year, the situation in this matter has improved, which has benefited the company. In addition, the impact of the company’s sales volume, increase in other income and improved operating performance is also visible in this year’s results.

Nykaa is also on the path of Zomato, shares hit a new low, what to sell and get rid of?

Offline income grew by 46%

In the second quarter of this year, the company’s separate operating income grew by 46% year-on-year to Rs 29,931 crore. Thanks to the impressive performance of Maruti Suzuki India, the company’s shares also rose significantly. On Friday, the company’s shares closed at 9492.55, up about 5% on the NSE. It also previously touched the 9,549.95 level, setting a new record of 52 weeks.

Medanta Hospital Owner IPO: Global Health IPO Price Range Locked at Rs 319 to Rs 336, Subscription Opens November 3rd.

In September, 5.17 million vehicles were sold.

For the quarter ended September 2022, Maruti Suzuki sold approximately 5.17 million vehicles. Of these, 4.54 million vehicles were sold by the company in the domestic market, while 63,195 vehicles were exported. Before that, the company had never sold so many cars in any one quarter. This is 36 percent more than in the same quarter last year. However, despite such good performance, the problem of the shortage of electronic components has not yet been fully resolved. According to the company, the shortage of these components affected the production of about 35,000 vehicles during the September quarter. Not only that, orders for about 4.12 million vehicles received from customers were pending until the end of the September quarter, of which orders for 1.3 million vehicles were received through pre-booking of newly released models.

Everything was different last year

The company’s operating income was Rs 2,046.3 crore in the September quarter. While operating profit margin rose 670 basis points to 7.2%. However, given the sharp drop in operating profit last year due to a sharp rise in commodity prices and a curtailment in the supply of electrical components, comparison with the same period last year does not paint the true picture.



[ad_2]

Source link

Leave a Comment