Maruti Suzuki India recorded 48% decline in net profit to Rs 1,011.3 crore on as net sales remained flat at Rs 22,187.6 crore in Q3 FY22 over Q3 FY21.
As compared with Q2 FY22, the company's net profit and net sales are higher by 113% and 15%, respectively.
The company sold 430,668 vehicles the third quarter, which is lower by 13% as compared with 495,897 vehicles sold in the same period last year. Sequentially, the sales volume is higher by 13%.
Operating EBIT declined 38% YoY to Rs 919 crore in Q3 FY22. Operating EBIT margin was 4.1% in Q3 FY22 as against 6.7% in Q3 FY21.
The company said that adverse commodity prices, lower sales volume due to electronic component shortages, and lower non-operating income adversely impacted the margin. However, cost reduction efforts and an increase in selling prices mitigated some of the adverse impacts.
Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles).
The scrip advanced 4.82% to currently trade at Rs 8435 on the BSE.
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