Maruti Suzuki India gears up to launch its first EV with 500-km range in Jan
Maruti Suzuki India on Tuesday said the automaker is geared up to launch its first electric vehicle (EV) with a range of 500 km per charge in January next year.
India’s largest carmaker Maruti Suzuki India (MSI) on Thursday reported 2.04 per cent increase in its consolidated net profit for the second quarter at Rs 1,419.6 crore on the back of higher sales. As per the data, the company had posted a net at Rs 1,391.1 crore in the July-September quarter of FY19-20.
Total revenue from operations rose by 10.34 per cent to Rs 18,755.6 crore for the second quarter as against Rs 16,997.9 crore in the same period of 2019-20, MSI said in a statement.
On a standalone basis, the company posted a net profit of Rs 1,371.6 crore, up 1 per cent compared to Rs 1,358.6 crore in the same period of the previous fiscal.
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The company said that the performance improved on the back of some demand recovery and gradual improvement in supply conditions.
“Production across the company’s factories and supply chain was progressively ramped up consistent with our policy of maximum safety of the people and following all prescribed protocols to ensure this,” it added.
Net sales stood at Rs 17,689.3 crore for the period under review, up 9.7 per cent from July-September period of 2019-20.
The firm said it sold 3,93,130 units during the September quarter, a growth of 16.2 per cent over the year-ago period. This includes 3,70,619 units in the domestic market, a growth of 18.6 per cent.
Exports during the quarter stood at 22,511 units, a decline of 12.7 per cent over the same period of the previous fiscal.
Maruti Suzuki India shares were trading at Rs 7052.25 on BSE, down 1.81 per cent from the previous close in the late afternoon session.
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