Maruti Suzuki's Third Quarter Net Profit Falls 48% To Rs 1,011 Crore

BENGALURU: Country's high automobile maker Maruti Suzuki India Ltd posted a 48 per cent fall in its third quarter internet revenue on Tuesday, as world chip scarcity has slowed manufacturing and excessive materials prices have squeezed margins.The firm reported a revenue of Rs 1,011 crore in October-December quarter of the present fiscal, down 47.90 per cent year-on-year (YoY) in opposition to a revenue of Rs 1,941.4 crore recorded in the course of the corresponding interval of final yr.Maruti mentioned that regardless of value discount efforts, as a result of decrease gross sales quantity, excessive commodity costs and lesser non-operating revenue on account of mark-to-market impression, its income had been comparatively on the decrease facet.The income from the sale of merchandise was at Rs 22,187 crore in opposition to Rs 22,236 crore within the corresponding quarter final yr. Operating EBITDA margin was 4.1 per cent within the third quarter of the present fiscal in opposition to 6.7 per cent recorded within the corresponding interval of final yr. The revenue margin was at 4.6 per cent in opposition to 8.7 per cent in the identical quarter final yr.