Maruti Suzuki shares surged over 3% to Rs 8,793.00 on the BSE after reporting a marginal increase in production last month.
According to a regulatory filing, the automaker recorded total output of 1,61,383 units in January 2022, up from 1,60,975 units in January 2021. “The shortage of electronic components had a minor impact on the production of vehicles during the month,” it has informed.
According to MSI, total passenger vehicle production was 1,57,668 units this month, compared to 1,56,439 units in January 2021. Last month, production of Alto and S-Presso minicars totalled 23,321 units, down from 27,665 units a year ago.
MSI said that the production of small vehicles, which include the WagonR, Celerio, Ignis, Swift, Baleno, and Dzire, increased to 87,165 units from 86,282 units previously. Similarly, utility vehicle production (Gypsy, Ertiga, S-Cross, Vitara Brezza, and XL6) grew to 33,550 units last month from 29,199 units in the same month in 2021.
The company reported a decline in Eeco van production to 10,587 units last month, down from 11,769 units in January 2021. MSI said that the output of its light commercial vehicle Super Carry fell to 3,715 units last month, down from 4,536 units the year-ago month.
“The above production data also includes production from Suzuki Motor Gujarat Private Limited and vehicles manufactured for sale to other OEMs,” it has mentioned.
The company reported a 48% year-on-year drop in standalone net profit for the quarter ended 31 December 2021, as a global chip scarcity delayed manufacturing and excessive material costs pressured margins. It declared a profit of Rs 1,011 crore in the aforementioned quarter, down from Rs 1,941 crore the previous year. Total income from operations for the top automaker was Rs 23,246 crore, compared to Rs 23,458 crore in the same period previous fiscal.