Maruti Suzuki gains as total sales rises 5% YoY in Feb

Maruti Suzuki advanced 1.15% to Rs 8,725 after the car major said that its total sales rose 5.04% to 172,321 units in February 2023 as compared with 164,056 units in February 2022.

The sales of passenger vehicles increased by 10.09% to 147,467 units, while sales of light commercial vehicles fell 8.28% to 3,356 units in February 2023 over February 2022.

The company's total domestic sales advanced 10.77% to 155,114 units, while total exports contracted 28.37% to 17,207 units in February 2023 over February 2022.

The shortage of electronic components had a minor impact on the production of vehicles, mainly in domestic models. The company took all possible measures to minimise the impact. The company said in statement.

Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components, and spare parts (automobiles).

The company's consolidated net profit surged 129.6% to Rs 2,391.50 crore on 25.5% jump in net sales to Rs 27,852.60 crore in Q3 FY23 over Q3 FY22.

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