Big miss for Maruti Suzuki as Q1 net profit comes in at Rs 441 crore

Weak volumes, commodity costs weigh on margins

India’s largest passenger vehicle maker, Maruti Suzuki India (MSIL) posted a net profit of Rs 440.8 crore in June quarter of FY22 (Q1FY22). The bottom line was much lower than street expectations which pegged the same at Rs 878 crore. The company had reported a loss of Rs 249 crore in the year ago quarter due to a complete lockdown. 

While sales were impacted by the lockdown in the first two months of the June (Q1FY22) quarter, the reason for the lower net profit y-o-y was a decline in other income which more than halved to Rs 507 crore. On a