Maruti Suzuki reports over two-fold rise in Q1 net profit at Rs 1,013 cr

It sold a total of 467,931 vehicles during the quarter, with exports being the highest ever at 69,437 units

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The automotive major has hiked prices 6x from January 2021 to June this year, while cutting back on discounts as demand rebounded from pandemic lows

Arindam Majumder New Delhi
India’s largest carmaker Maruti Suzuki India (MSIL) on Wednesday reported over a twofold jump in its consolidated net profit in the April-June quarter (first quarter, or Q1) of 2022-23 (FY23).

Its net profit jumped to Rs 1,013 crore, mainly due to a low base in the year-ago period when the company had reported a Rs 440.8-crore profit. The company’s production was hampered by Covid-related disruptions.

It sold a total of 467,931 vehicles during the quarter, with exports being the highest ever at 69,437 units. The automotive major has hiked prices 6x from January 2021 to June this year, while cutting back on

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First Published: Jul 28 2022 | 1:03 AM IST

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