Maruti net profit skids 48% on chip shortage
Business Standard|January 26, 2022
Expects no demand let-up; targets production ramp-up in Q4
ARINDAM MAJUMDER

Maruti Suzuki India (MSIL), the country's largest carmaker, on Tuesday reported a 48 per cent fall in third-quarter (Q3) net profit, as the global chip shortage slowed production and high material costs squeezed margins.

The carmaker reported a standalone net profit of ₹1,011 crore for the three months ended December, compared with ₹1,941 crore a year earlier.

Standalone revenue for the Gurgaon-based company fell 1 per cent to₹23,246 crore. The preceding quarter saw the top line at ₹20,538 crore.

The company hopes to increase production in the fourth quarter, although it will not reach full capacity.

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