The car major on Monday said that it has planned to hike prices across models in September 2021 due to higher input costs.
Maruti Suzuki India said that over the past year the cost of company's vehicles continue to be adversely impacted due to increase in various input costs. Hence, it has become imperative to pass on some impact of the additional cost to the customers through a price rise.
Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles).
On a consolidated basis, the auto major's net profit stood at Rs 475 crore in Q1 FY22, as compared to a net loss of Rs 268.30 crore posted in Q1 FY21. Consolidated net sales surged 356.6% to Rs 16,799.90 crore in Q1 FY22 over Rs 3,679 crore in Q1 FY21.
The scrip advanced 2.10% to Rs 6,744.20 on the BSE.
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