Maruti Suzuki net profits decline by 11 percent in FY 2021-22

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Maruti Suzuki today announced its financial results for FY 2021-22. Despite an increase in net sales, the company’s net profit declined by 11% over previous year.
The company reported a net profit of INR 37,663 million in FY 2021-22 as compared to INR 42,297 million in FY 2020-21. Meanwhile, the company registered net sales stood at INR 837,981 million compared to INR 665,621 million over the previous year.
In terms of unit sales, Maruti Suzuki witnessed a hike of 13.4% with domestic sales up to 3.9% in FY 2021-22. The car manufacturer says that it sold 1,652,653 vehicles in FY 2021-22 over 1,414,277 vehicles in FY 2020-21.
The company also reported a sharp increase in exports as it was around 62% higher than any financial year so far with 238,376 units in FY 2021-22.
According to Maruti, the production of over 2,70,000 vehicles were impacted by semiconductor shortage globally. In addition, the brand also reported domestic bookings of about 2,68,000 vehicles at the end of FY 2021-22.
The company states that due to the unprecedented increase in the prices of raw materials during the year had forced us to increase prices across our range of cars.
Maruti Suzuki’s net profit for the Q4FY22 stood at INR 18,389 million, higher by 57.7% compared to the same period last year.
The company is following an aggressive product plan this year and has already launched the updated Ertiga and XL6 and Dzire CNG this year. Next key models include the mid-size SUV in the Hyundai Creta, Kia Seltos segment and the updated Brezza.



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