Maruti Suzuki Q1 results: Automaker reports lower-than-expected PAT of Rs 441 cr, margins hit multi-quarter lows

MUMBAI: as we speak reported a net profit of Rs 440.8 crore as towards a net loss of Rs 249 crore within the year-ago quarter. Analysts had anticipated the corporate to report web revenue of Rs 828 crore within the reported quarter.

Nonetheless, it was the margin efficiency of the corporate that was a shocker, reflecting the impression of upper uncooked materials costs. Working margin within the quarter stood at 4.8 per cent as towards 8.6 per cent reported within the earlier quarter.

The topline of the passenger carmaker soared 333 per cent year-on-year to Rs 17,770 crore largely due to a really weak base within the year-ago quarter, which was marred by the nationwide lockdown to comprise the unfold of the pandemic.

“The manufacturing and gross sales in quarter 1 FY2021-22 had been considerably affected because of the pandemic associated disruptions,” the corporate stated.

On a sequential foundation, the corporate’s web gross sales plummeted 27 per cent, whereas the web revenue tanked 62 per cent, reflecting the impression of the second wave on the enterprise.

The corporate stated that it continued to face adversarial commodity costs with materials prices rising nearly 200 foundation factors sequentially as proportion of revenues. Rising commodity costs have adversely affected vehicle makers as they’ve been unable to completely go on the impression to shoppers because of the weak demand setting within the sector.

Shares of Maruti Suzuki ended 1.3 per cent decrease at Rs 7,150 on the Nationwide Inventory Trade.

https://economictimes.indiatimes.com/markets/shares/earnings/maruti-suzuki-q1-results-automaker-reports-lower-than-expected-pat-of-rs-441-cr-margins-hit-multi-quarter-lows/articleshow/84821743.cms | Maruti Suzuki Q1 outcomes: Automaker studies lower-than-expected PAT of Rs 441 cr, margins hit multi-quarter lows

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