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.
This story is from the January 26, 2022 edition of Business Standard.
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This story is from the January 26, 2022 edition of Business Standard.
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