The country’s largest passenger vehicle maker Maruti Suzuki India (MSIL) on Friday reported a consolidated net profit of ₹1,876 crore for the fourth quarter ended March, a 50 per cent jump year-on-year (YoY) compared with ₹1,241 crore in the corresponding period last year.
Revenue from operations grew 11 per cent to ₹26,749 crore (₹24,124 crore).
The company sold a total of 4,88,830 vehicles during the quarter, lower by 0.7 per cent compared to the same period the previous year. In the quarter, domestic market sales stood at 4,20,376 units, a decline of 8 per cent over that of the fourth quarter of 2021, the company said in a statement.
Exports were at 68,454 units, the highest ever in any quarter, it said.
Commodity price rise
The prices of commodities such as steel, aluminium and precious metals witnessed an unprecedented increase during the year. The company was forced to increase prices of vehicles to partially offset this impact. It continued to work on cost reduction efforts to minimise the impact on customers,” it said.
For the fiscal year ended March 31, the company said its consolidated net profit stood at ₹3,879.5 crore, a decline of 12 per cent compared to ₹4,389 crore in FY21.
Consolidated total revenue from operations for the last fiscal was at ₹88,330 crore. against ₹70,372 crore in FY21, it added.
MSIL sold 16,52,653 vehicles during the year, up 13 per cent over the previous year. Domestic sales were at 14,14,277 units, up four per cent over FY21.