Pent-up demand, rural growth bring Maruti Suzuki back in recovery lane

The company remains cautious on full-fledged recovery, given concerns over a second wave of Covid-19

Auto major Maruti Suzuki on Thursday reported a 2.05 per cent year-on-year (YoY) growth in consolidated profit at Rs 1,419.6 crore for the September quarter of financial year 2020-21 (Q2FY21). Its revenues rose 10.34 per cent to Rs 18,755.6 crore.

In comparison, the company had posted revenue of Rs 16,997.9 crore and profit of Rs 1,391 crore in the corresponding quarter last year.

On a standalone basis, Maruti’s revenue came in at Rs 18,744.5 crore, while profit after tax (PAT) stood at Rs 1,371.6 crore.

During the quarter, Maruti sold around 393,000 vehicles, up 16.2 per cent YoY. Sales in the domestic market