Maruti Suzuki clocks 1% net profit in Q2

In quarter 1, the performance of the company was affected due to Covid19.

NEW DELHI: Maruti Suzuki India has reported a net profit of Rs 1,371, a slim growth of one per cent year-on-year for the quarter ended 30 September 2020.

The Q2 bottom line of India's largest car manufacturer is still an improvement from a year-on-year loss of Rs 249.5 crore in the previous quarter, owing to Covid2019 related disruptions and lockdowns.

Production across the company’s factories and supply chain was progressively ramped up, with total sales of 393,130 vehicles during the quarter, higher by 16.2 per cent compared to the same period the previous year. Sales in the domestic market stood at 370,619 units, higher by 18.6 per cent. Exports were at 22,511 units, lower by 12.7 per cent.

During the quarter, Maruti Suzuki registered net sales of Rs 17,689.3 crore, higher by 9.7 per cent compared to the same period previous year. The operating profit for the quarter was Rs 1,167.7 crore, a growth of 71.7 per cent over the same period previous year on account of higher sales volume, lower sales promotion expenses, lower operating expenses and cost reduction efforts partially offset by an increase in commodity prices and adverse foreign exchange movement.

The net profit in quarter two of the previous year FY19-20 was higher due to mark-to-market gains on the invested surplus and lower tax provision. As a result of this, while the operating profit increased by 71.7 per cent over the same period the previous year, the net profit increased by one per cent.

Latest Reads
Disney Star launches #MixItUp campaign film to celebrate Pride month

Mumbai: It's Pride month of 2022 and to celebrate this lyrically, Disney Star network has launched a powerful music video #MixItUp. Disney Star recognizes and appreciates the need for creating a more inclusive world. We live in a world full of colour and all shades together make the rainbow. Man,...

MAM Media and Advertising Ad Campaigns
Cisco elevates Joshua Mathew as head of India marketing

Cisco has elevated Joshua Mathew as the head of India marketing. He has been associated with Cisco for more than four years.

MAM Marketing Brands
mSix&Partners wins integrated media mandate for VKC Nuts

GroupM’s outcome-based agency, mSix&Partners, has won integrated media and social duties for VKC Nuts, which also operates under the brand name ‘Nutraj’. The brand is also launching Nutraj Bactopure, pasteurised dried fruits.

MAM Marketing MAM
ASCI processes 5532 complaints in 2021-22; education remains most violative sector

Mumbai: The Advertising Standards Council of India (ASCI) released its annual complaints report for the period April’ 21 – March’ 22, during which it processed 5,532 advertisements across mediums including print, digital, and television. Education at 33 per cent remains the single largest violative...

MAM Marketing MAM
Vega announces the launch of its new vertical ‘VEGA Professional’

Personal care appliances and beauty care accessories brand Vega has launched a new vertical Vega Professional.

MAM Marketing MAM ropes in Shahid Kapoor as brand ambassador

Mumbai: on Tuesday announced Bollywood superstar Shahid Kapoor as its brand ambassador. PokerBaazi aims to create a robust ecosystem for Poker in India, and Shahid’s association with the brand comes in line with its commitment to popularise and create awareness amongst the masses...

MAM Marketing MAM
Goodknight unveils its new TVC campaign ‘Neendon ko nazar na lage’

India's leading household insecticide brand Goodknight launches a new TVC campaign ‘Neendon ko nazar na lage’. This film showcases the bond between a father and child and the importance of uninterrupted sleep for an infant’s well-being. Through this film, Goodknight aims to encourage young parents...

MAM Marketing MAM
Hashtag Orange onboards seven clients in two months

Gurugram-based integrated digital marketing agency Hashtag Orange has been on a winning spree with multiple pitch wins in the recent two months. The agency bagged mandates across several key accounts including GMR Hyderabad International Airport, Monte Carlo, Rock-It, Hype Ryno, EDGE by Pearl...

MAM Marketing MAM
Social Panga on boards Indrayudh Mitra & Archana Sudarsan; bolsters creative leadership

Integrated digital marketing agency, Social Panga has further strengthened its creative team. The agency, founded by Gaurav Arora and Himanshu Arora, has appointed Indrayudh Mitra as senior creative director & Archana Sudarsan as creative director.

MAM Marketing MAM