Maruti internet dives 65.7% on chip crunch, excessive commodity costs

Hit by an increase in enter price, following the soar in commodity costs, and decline in gross sales on account of ongoing semiconductor scarcity, Maruti Suzuki India reported a 65.7 per cent dip in consolidated internet revenue at Rs 486.9 crore for the quarter ended September 2021. In the year-ago quarter, it had reported internet revenue of Rs 1,419.6 crore.
During the quarter, the home car gross sales additionally declined to three,20,133 items, as in opposition to 3,70,619 items within the year-ago interval. The agency mentioned it couldn’t produce an estimated 1.16 lakh autos as a result of part scarcity, including it has over 2 lakh pending orders. “This quarter was also marked by an unprecedented increase in the prices of commodities within a span of one year…,” it mentioned.
It will launch electrical autos after 2025 as demand for such autos in the mean time is much less and it’ll wish to promote about 10,000 items a month when it enters the house, Maruti Suzuki chairman RC Bhargava was quoted by PTI as saying.

L&T internet falls 67%Meanwhile, as per a PTI report, L&T reported a 67 per cent drop in consolidated internet revenue to Rs 1,819.45 crore for the September quarter.