Maruti’s net profits up 2x in Q1  

Maruti Suzuki India’s  FY23 results have thrown up some interesting numbers. A total of 2,80,000 pending order book due to chip shortage, the highest ever export tally of 69,437 units, and a two-fold jump in consolidated net profit to ₹1,036 crore marked India’s leading passenger car maker’s performance for Q1 of FY23

The waiting period for the recently-launched Maruti Brezza currently stood at seven and half months with the new Grand Vitara clocking 15000+ bookings within less than seven days of launch. The mid-size SUV was launched on 20 July, and will be made at Toyota’s Bidadi plant.

MSIL also said that the shortage of electronic components resulted in the non-production of about 51,000 vehicles during the June quarter and the company stated that it is doing its best to push the order backlog.

MSIL in a release stated that sales in the domestic market stood at 3,98,494 units as compared to 3,08,095 units in the domestic market for the last fiscal

On a standalone basis, the company reported a net profit of ₹1,013 crore as against ₹440 crores in the first quarter of 2021-22.Net sales stood at ₹25,286 crore compared with ₹16,799 crore a year ago.