Maruti Suzuki India Q2 net profit jumps 334% YoY to Rs 2,112 crore

Chip supply resolution, favourable forex rate and record sales drive growth

Maruti Suzuki India’s consolidated net profit reported a jump of 334 per cent to Rs 2,112.5 crore in Q2 of FY23 compared to the corresponding period last year, primarily aided by the resolution of chip supply issues, highest ever unit sales and favourable foreign exchange rates.

Company Chairman R C Bhargava said the auto industry will see its highest-ever sales in FY23. “They will cross the FY19 levels,” he added. However, he clarified that Maruti Suzuki’s sales in FY23 would be roughly of the same order as in FY19. 

“The industry will be ahead of FY19 levels because the smaller car segment