Maruti Suzuki Q3 net profit zooms 24% to Rs 1,941.4 crore on higher sales

Can't raise prices despite higher production cost, says firm

India’s largest carmaker Maruti Suzuki on Thursday reported a 24 per cent year-on-year (YoY) rise in net profit to Rs 1,941.4 crore for quarter ended December 31 (Q3) of financial year 2020-21 (FY21).

However, operating margins contracted by 70 basis points (bps) to 9.5 per cent, compared with 10.2 per cent in the corresponding period last year, because of a 31.29 per cent increase in raw material cost and 9 per cent rise in other expenses.

The firm said it has limited capability to rai­se prices, despite a steep increase in prices of co­m­modities, as de­mand is remains uncertain. 

The commentary ca­me as