The net profit of Maruti Suzuki jumped by 333 per cent to Rs 2061.5 crore in the second quarter of FY23 as compared to the second quarter of FY22 with favourable foreign exchange rates and highest-ever unit sales.

“The company sold 517,395 vehicles during the quarter, the highest ever in any quarter. Sales in the domestic market stood at 454,200 units,” the company’s statement said. Also, the company posted the highest-ever sales revenue of Rs 28,545 crore in the second quarter of FY23.

“The same period previous year was marked by an acute shortage of electronic components (chips), and consequently the company could sell a total of 379,541 units comprising 320,133 units in domestic and 59,408 units in export markets,” it mentioned.

In 2022, the company considered higher expenses for advertisement, power, and fuel as negative factors affecting margins in the second quarter. At the end of the second quarter, 130,000 vehicles were pre-booked for new models, and 4,12,000 vehicles were pending customer orders.