India: Maruti Suzuki’s profit declines 62% on quarter in Q1 FY ’22

Auto major, Maruti Suzuki India Ltd (MSIL), has announced its Jun ’21 quarter results today. Given the low base of Q1 FY ’21, which was marred by lockdowns, the production and sales in Q1 FY ’22 were significantly affected due to the pandemic-related disruptions and adverse commodity prices.

Highlights

• In Q1 FY ’22, Maruti reported lower sales at 3,53,614 units due to COVID-19 related disruptions, leading to lower capacity utilisation.
• Operating EBITDA was registered at 779 units in Q1, down 94% q-o-q
• Profit after tax (PAT) was down 62% in Q1 FY ’22