The car major on Monday announced that it has planned price hike in the second quarter due to higher input costs.
Maruti Suzuki India in an exchange filing said, "The company's vehicles continue to be adversely impacted due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise.""Price rise has been planned in quarter 2 and the increase shall vary for different models," it added.
The car major reported 9.7% decline in net profit to Rs 1,166.10 crore on 33.6% increase in net sales to Rs 22,958.60 crore in Q4 FY21 over Q4 FY20. Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles).
Shares of Maruti Suzuki India were down 0.79% at Rs 6,903.60 on BSE.
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