India: Maruti’s net profit falls 10% y-o-y; sales surge on low base in Q4 FY ’21

India’s largest passenger carmaker-Maruti Suzuki India Limited, has reported nearly a 10% y-o-y fall in net profit to INR 1,166 crore for the quarter ended March. The company’s sales, however, soared 33.6% on-year to INR 22,958.6 crore. The company’s year-on-year performance on the topline has been aided by the low base of the year ago quarter which was hit by the national lockdown. Maruti’s net sales fell 7.2% to INR 66,562.1 crore, while net profit slumped 25% to INR 4,229.7 crore in FY ’21.