Maruti Suzuki posted its quarterly results for Q3 FY22 on January 25, 2022. The company’s consolidated profit after tax (PAT) fell by 47.8% year on year (YoY) to Rs 1,041 crore from Rs 1,996 crore in the year-ago period. On a sequential basis, Maruti’s PAT increased by ~114% quarter on quarter (QoQ) from Rs 486 crore in the previous quarter. The phenomenal sequential jump was primarily due to cost reduction efforts, lower sales promotion expenses, increase in selling prices, and a relatively better sales volume after a long lull because of Covid.
The company recorded Rs 23,581 crore as their total income for the October-December 2021 period, making it a 3.6% YoY dip from Rs 24,465 crore reported in the same quarter in the previous financial year. However, the total income shot up by 12% QoQ from Rs 21,056 crore in Q2 FY22.
The total revenue from operations also saw a 1% YoY dip at Rs 23,253 crore from Rs 23,471 crore in the year-ago period while there was a 13% QoQ jump from Rs 20,550 crore in the previous quarter.
While the company posted positive numbers sequentially, the YoY growth was largely hampered by an adverse hike in commodity prices, semiconductor chip shortage, low non-operating income in the quarter under review, and low sales volume mostly due to the semiconductor shortage across the automobile industry.
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The company’s sales volume declined by 13% YoY to 4.30 lakh units from 4.95 lakh units in the year-ago period. On a QoQ basis, the sales volume was up by 13.4% from 3.79 lakh units in Q2 FY22.
In a statement, the company said, “This financial year, so far, has been unique owing to an unprecedented global crisis caused by the pandemic and electronic component shortages. In Quarter 1, the performance of the Company was significantly affected due to COVID-19 related disruptions and lockdowns. In Quarter 2 and Quarter 3, the performance of the Company was impacted due to electronic component shortages.”
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