The nation’s largest carmaker Maruti Suzuki India on Tuesday reported a 47.82 per cent decline in consolidated web revenue at Rs 1,041.8 crore within the third quarter ended December 2021, on account of decrease gross sales as a result of ongoing semiconductor scarcity and improve in commodity costs.
The auto main had posted a consolidated web revenue of Rs 1,996.7 crore within the October-December interval of final fiscal, Maruti Suzuki India mentioned in a regulatory submitting.
The fall in web revenue in the course of the interval below evaluate was attributable to decrease gross sales quantity, excessive commodity costs and decrease non-operating revenue on account of mark-to-market impression, it famous.
Consolidated income from operations declined marginally to Rs 23,253.3 crore within the third quarter as in comparison with Rs 23,471.3 crore within the year-ago interval, it added.
Total car gross sales have been down 13.1 per cent to 4,30,668 models within the third quarter as towards 4,95,897 models within the corresponding interval final fiscal.
Maruti Suzuki famous that its manufacturing in the course of the third quarter was constrained by a worldwide scarcity within the provide of digital parts due to which an estimated 90,000 models couldn’t be produced.
“There was no lack of demand as the company had more than 2,40,000 pending customer orders at the end of the quarter. Though still unpredictable, the electronics supply situation is improving gradually. The company hopes to increase production in Q4, though it would not reach full capacity,” it added.
On a standalone foundation, the corporate mentioned its web revenue within the third quarter stood at Rs 1,011.3 crore as in contrast with Rs 1,941.4 crore in the identical interval earlier 12 months.
Net gross sales declined marginally to Rs 22,187.6 crore within the interval below evaluate from Rs 22,236.7 crore in the identical interval earlier fiscal.
In the home market, the corporate’s gross sales stood at 3,65,673 models within the third quarter as towards 4,67,369 models within the Q3 of FY21, it mentioned.
However, the auto main clocked its highest ever exports at 64,995 models within the third quarter, it added.
Maruti Suzuki shipped out 28,528 models within the third quarter of 2020-21 fiscal.
For the 9 months ended December 31, 2021, the automaker posted a consolidated web revenue of Rs 2,003.7 crore as in comparison with Rs 3,148 crore within the year-ago interval.
Consolidated income from operations stood at Rs 61,580.6 crore as towards Rs 46,337.5 crore within the April-December interval of earlier fiscal.
Shares of the corporate rose almost 7 per cent to shut at Rs 8,600.60 on the BSE.
