Maruti Suzuki skids as Sept sales dip 46% YoY

Maruti Suzuki India fell 2.44% to Rs 7155.50 after the company said its total sales declined 46.16% year-on-year to 86,380 units in September 2021.

Total sales in the month include domestic sales of 66,415 units (down 55.74% YoY), sales to other OEM of 2,400 units (down 6.54% YoY) and exports of 17,565 units (up 124.21% YoY).

The company said its sales volume in September 2021 was adversely impacted due to shortage of electronic components. The company took all possible measures to limit the adverse impact.

Meanwhile, the car major on Thursday announced that it is facing a supply constraint of electronic components due to the semiconductor shortage. Due to this, the firm is expecting an adverse impact on vehicle production in October 2021 in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat (SMG), in Gujarat.

Though the situation is quite dynamic, it is currently estimated that the total vehicle production volume across both locations could be around 60% of normal production.

On a consolidated basis, the auto major's net profit stood at Rs 475 crore in Q1 FY22, compared with net loss of Rs 268.30 crore posted in Q1 FY21. Net sales surged 356.6% to Rs 16,799.90 crore in Q1 FY22 over Rs 3,679 crore in Q1 FY21.

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

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