INSUBCONTINENT EXCLUSIVE:
Maruti Suzuki sold 4,92,235 vehicles, registering a jump of 27.8% from the same quarter last year.The country's largest car maker - Maruti
Suzuki - on Tuesday, April 27, reported net profit of Rs 1,166 crore in January-March quarter of financial year 2020-21 that marked a
decline of 9.73 per cent from profit of Rs 1,291.7 crore during the same quarter last year
(Track Maruti Suzuki share price here)Maruti Suzuki's revenue from sale of products advanced 33.59 per cent to Rs 22,958.6 crore from Rs
17,185.7 crore.During the quarter ended March 2021, Maruti Suzuki sold 4,92,235 vehicles, registering a jump of 27.8 per cent from the same
quarter last year.Its operating profit margin or operating (EBIT) improved by 120 basis points to 5.4 per cent, the Gurugram-based auto
maker said in a press release.Improved capacity utilization, lower sales promotion expenses and increase in selling prices and cost
reduction efforts were key positive factors for the company in March quarter
While, adverse commodity prices, adverse foreign exchange fluctuation and lower fair value gains on invested surplus were negative factors
for the company, Maruti Suzuki said.Maruti Suzuki hiked prices on selected models from April 16 due to an increase in various input costs
According to a regulatory filing by the company to stock exchanges, the weighted average price increase in ex-showroom prices (Delhi) across
selected models is 1.6 per cent
This was the second price hike on cars by the company this month, and the third hike since February.Maruti Suzuki shares fell 1 per cent to
Rs 6,572, underperforming the Sensex which was up 1 per cent.
