Net sales for the said quarter declined 9.09 per cent to Rs 19,297.80 crore compared with Rs 17,689.30 crore in the corresponding quarter last year. Margin for the quarter stood at 4.1 per cent, which was lower than ET NOW poll estimate of 5.6 per cent.
Adverse commodity prices and lower sales volume due to electronic component shortages (leading to lower capacity utilisation) hit the numbers, the automaker said in a BSE filing.
The carmaker sold a total of 379,541 units during the quarter, constrained by a global shortage in the supply of electronic components. Sales in the domestic market stood at 3,20,133 units. Exports sales came in at 59,408 units, the highest ever in any quarter.
An estimated 116,000 vehicles could not be produced owing to the electronics component shortage mostly corresponding to the domestic models. The company had more than 200,000 pending customer orders at the end of the quarter for which the company is making all efforts to expedite deliveries, Maruti Suzuki said in an exchange filing.
“The quarter was also marked by an unprecedented increase in the prices of commodities like steel, aluminium and precious metals within a span of one year. The company made maximum efforts to absorb input cost increases offsetting them through cost reduction and passed on minimum impact to customers by way of car price increase,” the company added.
The scrip, however, rose 1.30 per cent to Rs 7,391 on the BSE in a knee-jerk reaction to the results.
