Check Out the Details: Maruti Suzuki’s Q2 Net Profit Soars 80% to Rs 3,717 Crore

Maruti Suzuki India said on Friday that its net profit for the July-September quarter increased by an astounding 80.3% to Rs 3,716.5 crore. The company attributed this gain to improved sales, declining commodity prices, cost-cutting measures, and greater non-operating income. In the second quarter of FY23, the business reported a net profit of Rs 2,061.5 crore, according to a statement from Maruti Suzuki India.

Due to increased sales volume and product mix, the business reported net sales of Rs 35,535.1 crore during the reviewed quarter as opposed to Rs 28,543.50 crore during the same quarter of the previous fiscal year, it said. In comparison to the 5,17,395 automobiles sold in the same quarter last year, the business sold 5,52,055 vehicles during the period.

According to the corporation, out of the 5,52,055 automobiles sold between July and September of this year, 4,82,731 were sold domestically and the remaining 69,324 were exported. The automaker said that this quarter had record-high quarterly sales volume, net sales, and net profit.