Maruti Suzuki India Ltd on Tuesday, reported a 26.4 percent year-on-year decline in consolidated net profit to Rs 2,466.1 crore for the fiscal second quarter, despite a 26 percent increase in revenue from operations to Rs 53,355.5 crore.
The country's largest passenger carmaker reported record quarterly sales volumes, but profitability was hit by higher commodity costs linked to the West Asia conflict and mark-to-market losses on invested surplus, the company said in a stock exchange filing.
According to the company's earnings release, operating profit (EBIT) declined 17.1 percent year-on-year to Rs 2,803.7 crore in Q2 FY27 from Rs 3,382 crore in the corresponding quarter last year. However, operating profit increased 10.8 percent sequentially from the April-June quarter.
Maruti Suzuki attributed the decline in operating profit to higher commodity costs arising from the West Asia conflict. Non-operating income also fell sharply during the quarter because of mark-to-market losses on invested surplus.
On a standalone basis, the company's net profit declined to Rs 2,414.9 crore from Rs 3,302.8 crore a year earlier.