Maruti Q2 net dips 66% to Rs 487 crore as chip shortage, rising commodity prices weigh on production

The country’s largest carmaker Maruti Suzuki India on Wednesday reported a 66 per cent decline in consolidated net profit at Rs 487 crore in the second quarter ended September 30, 2021, impacted by the ongoing semiconductor shortage and increase in commodity prices.

The company had posted a consolidated net profit of Rs 1,420 crore in the second quarter of last fiscal, Maruti Suzuki India said in a statement.

Consolidated revenue from operations stood at Rs 20,551 crore in the second quarter, as compared to Rs 18,756 crore in the year-ago period, it added.

Total vehicle sales were down 3 per cent at 3,79,541 units in the second quarter, as against 3,93,130 units in the corresponding period last fiscal, it said.