Pak Suzuki has reported net loss of Rs. 460.2 million in quarter of current fiscal year 2022. This is a huge hit considering the company reported a net profit of Rs. 777.9 million in the same quarter ending in March 31st of the last year.
Suzuki Pakistan reported net sales revenue of Rs. 47.7 billion during the January to March 2022. If you compare this figure to previous year’s figure, the automaker reported net sales revenue of 36 billion during the same period making this year a 33% jump.
During the first quarter of 2022, PSMC posted a loss of Rs. 5.59 share. Pak Suzuki’s financing cost increased to Rs. 1.031 billion, a YoY increase of 312 pc mainly because of exchange rate losses.
The loss is attributable to various things including higher production costs, increase in financial charges, and dwindling other income.
On the other hand, the parent company of Pak Suzuki, Suzuki Japan has been raided for lying about their vehicles’ emissions. Japanese authorities are investigating diesel powered Suzuki engines for emission ratings. Like Volkswagen, it has been found by various authorities including Germany, Hungary, and Italy that Suzuki has been altering the dyno/bench testing numbers of their diesel engine to meet the European emission standards thanks to Suzuki’s trick on-board diagnostics. The company basically is lying about the emissions their diesel engine makes in order to meet both the required power level as well as to meet the emissions standards.