New Delhi: The Board of Directors of Maruti Suzuki India Limited today approved the financial results for the period October-December 2020 (Quarter 3, FY 20-21) and April-December 2020 (9M, FY 20-21).
These results have to be viewed in the context that in the previous year FY 2019-20, sales volume declined by 16% for the Company and about 18% for the industry.
Highlights: Quarter 3 (October-December), FY 2020-21
The Company sold a total of 495,897 vehicles during the Quarter, higher by 13.4% compared to the same period previous year. Sales in the domestic market stood at 467,369 units, growing by 13.0%. Exports were at 28,528 units, higher by 20.6%.
During the Quarter, the Company registered Net Sales of INR 222,367 million, an increase of 13.2% compared to the same period previous year.
The Operating Profit for the Quarter was at INR 14,848 million, a growth of 19.3% over the same period previous year on account of higher sales volume and cost reduction efforts partially offset by increase in commodity prices and adverse foreign exchange movement.
Net Profit for the Quarter stood at INR 19,414 million, higher by 24.1% over the same period previous year owing to the above factors and higher non-operating income.
Highlights: 9M (April-December), FY 2020-21
The Company sold a total of 965,626 vehicles during the period, lower by 18.0% compared to same period previous year. Sales in the domestic market stood at 905,015 units, lower by 17.8%. Exports were at 60,611 units, declining by 21.9%.
During the period, the Company registered Net Sales of INR 436,035 million, lower by 20.0% compared to that in the same period previous year.
Net Profit for the period stood at INR 30,636 million, decreasing by 29.7% compared to that in the same period previous year.
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