Maruti Suzuki shines in global markets too!
Maruti Suzuki India Ltd informed the exchange about consolidated financial results issued by Suzuki Motor Corporation in Japan.
From April 2021 to March 2022, the net sales of Suzuki Motor Corporation increased by 12.3 per cent to ¥3,568.4 billion compared to the previous year, when the business performance declined due to the COVID-19 pandemic. The operating profit decreased by 1.5 per cent to ¥191.5 billion YoY, mainly owing to an increase in the raw material prices. Ordinary profit increased by 5.9 per cent to ¥262.9 billion YoY, mainly owing to the improvement in financial revenue. And, profit attributable to the owners of the parent company increased by 9.5 per cent to ¥160.3 billion YoY. The company schedules annual dividends of ¥91 per share.
In India, the company Maruti Suzuki India Ltd announced its Quarterly Results two weeks ago. Considering the financial performance, it recorded net sales and other operating income of Rs 26,740.00 crore thereby, posting a growth of 11.31 per cent from Rs 24,023.70 crore registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 2,901.20 crore in Q4FY22 as compared to an operating profit of Rs 2,080.90 crore in Q4FY21. Q4FY22 recorded a net profit of Rs 1,838.90 crore in comparison with the net profit of Rs 1,166.10 crore in the same quarter of the previous year, up by 57.7 per cent.
The automobile company said that the business witnessed a disruption due to the second COVID-19 wave in the first quarter. Later, production during the year was impacted by the shortage of electronic components, because of which, there were pending customer bookings at the end of the year. The prices of commodities such as steel, aluminium, and other metals witnessed an increase during this year. Hence, the company was forced to increase the prices of vehicles to offset this impact. The company tries its best to work on cost reduction techniques in order to minimise the impact on the customers.
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