Semiconductor chip shortage impacts Maruti Suzuki’s results, profits down by up to 65 per cent
Maruti Suzuki Results : Semiconductor Chip The impact of the shortage is being seen on the results of auto companies. The country’s largest auto company Maruti Suzuki India Limited has announced the results of the second quarter (July to September) of this financial year. According to the results, the net profit of the company has decreased by 65 percent as compared to the same quarter of last year.
Maruthi Suzuki’s profit slashed
The profit of Maruti Suzuki declined to Rs 475 crore from Rs 1,372 crore in the same quarter last year. However, compared to the first quarter of April to June, the company’s profit has increased by 7 percent. The company’s profit in the first quarter was Rs 441 crore. The company’s revenue grew by 10% to Rs 20,539 crore as compared to Rs 18,745 crore in the second quarter of September 2020-21.
Impact of chip shortage on sales
Due to COVID-19, there is a shortage of semiconductor chips around the world, due to which production has been affected, and the company’s profits have also been affected due to rising commodity prices. If we look at the stock of Maruti Suzuki, on Wednesday it closed at Rs 7356.25, up 0.81 percent.
read this also :
Paints Price Hike: Another setback of inflation in festivals, house painting – paint becomes expensive, prices of paints increased by 10 percent
Petrol Diesel Price Update: Petrol diesel prices increased for the 20th time today in the month of October, know what is the price today in every city
.
