Maruti Suzuki reports lower-than-expected net profit of Rs 441 crore in Q1

Sequentially, the profit declined 62.19 per cent from Rs 1,166.1-crore profit reported in the March quarter of FY21 as auto sales remained disrupted due to localised lockdown during April & May

India’s largest domestic automobile manufacturer Maruti Suzuki India on Wednesday reported a standalone net profit of Rs 440.8 crore for April-June quarter of FY22 (Q1FY22), hit by increased tax expenses and lower sale volumes. The company had posted a net loss of Rs 249.4 crore in the year-ago period.
 

Sequentially, however, the profit declined 62.19 per cent from Rs 1,166.1-crore profit reported in the March quarter of FY21 as auto sales remained disrupted due to localised lockdown during April and May. 
 

“The company's operations and financial results for the quarter ended June 30, 2021 have been adversely impacted by the