Maruti Suzuki's net profits more than doubled in Oct-Dec quarter

New Delhi: Automaker Maruti Suzuki India's net profits during the October-December 2022 quarter (Q3 FY23) were at Rs 2,351 crore, about 132 per cent higher than what was reported in the same quarter last year.

In Q2FY22 (October-December 2021), the net profits were at Rs 1,011 crore. Further, the auto major's revenue from operations during the quarter was at Rs 29,044 crore as compared to Rs 23,246 crore same quarter last fiscal. Revenues were about 25 per cent higher year-on-year.

The Board of Directors of Maruti Suzuki India Limited on Tuesday approved the financial results for October-December 2022.

During the December ended quarter, the company sold a total of 465,911 vehicles. Accordingly, sales in the domestic market were at 403,929 units and exports were at 61,982 units, it said in its earnings report.

"Shortage of electronic components impacted production by about 46,000 vehicles in this quarter. This was against total sales of 430,668 units comprising 365,673 units in domestic and 64,995 units in export markets in the same period, previous year," the report said.

Pending customer orders stood at about 363,000 vehicles at the end of the December quarter, out of which about 119,000 orders were for newly launched models.

During the April-December period, the company sold a total of over 1.45 million units. Sales in the domestic market stood at 1.25 million units. Exports were at 194,614 units.

During the same period of 2021, the company registered a total sale of 1.16 million units including 993,901 units in the domestic market and 169,922 units in the export market.