The performance of the company got impacted because of lower volumes due to the COVID-induced global chip shortage that hit production and margins came under pressure due to high commodity prices.
Maruti Suzuki has lost market share from 51 percent to 47 percent in the current quarter. (Representative image)
India’s largest passenger vehicle manufacturer, Maruti Suzuki India Limited (MSIL), declared its results on October 27 for the second Quarter ending September 30. It has reported a standalone profit after tax of Rs. 475 crore for the quarter, decreasing 65% from Rs 1,372 crore reported in the same quarter last year. On a sequential basis, profit improved marginally by 7% from Rs. 441 crore reported in June-21 quarter.
The standalone revenues from operations improved by 10% to Rs 20,539 crore for the quarter, compared to Rs 18,745 crore in Septemeber 2020 quarter. On a sequential basis, the revenues jumped 16% from Rs 17,771 crore.
The performance of the company got impacted because of lower volumes due to the COVID-induced global chip shortage that hit production and margins came under pressure due to high commodity prices.
The stock closed at 7,297.35 on October 26, up Rs 36.75 (0.5 percent) from its previous day’s close. It has been more or less flat during the past one year, appreciating only 3 percent. It has generated negative returns of 4.5% percent during 2021 and has appreciated 5 percent in the last one month.
