Maruti’s Q4 profit rises 48% to Rs 3,878 cr on record sales

The biggest passenger vehicle manufacturer in the nation, Maruti Suzuki India Limited, said on Friday that its net profit for the quarter that ended on March 31, 2024, was Rs 3,878 crore, a record high. This is a 48% YoY increase from the Rs 2,624 crore recorded during the same period in 2022–2023.

Higher non-operating income, favorable commodity prices, increased sales volume, and cost-cutting initiatives were the causes of this. In comparison to the same time in the previous fiscal year, when net sales were Rs 30,821.8 crore, the business had net sales of Rs 36,697.5 crore during the quarter. Including exports, the automaker sold 5,84,031 cars overall during the quarter, a 13.4% increase over the same time last year.

The automaker’s net profit for the whole fiscal year (2023–24) was Rs 13,209.4 crore, which is 64% more than the net profit of Rs 8,049.2 crore for the previous fiscal year (2022–23).

The company’s net sales for FY2023–24 were Rs 1,34,937.80 crore, up 19.9% from FY2022–23’s net sales of Rs 1,12,500.8 crore.

In FY2022-23, the firm sold 21,35,323 automobiles overall, an increase of 8.6% over the previous year. In FY2023–2024, the firm achieved its first-ever yearly total sales milestone of 20 lakh units. For the third year in a row, the business maintained its position as the biggest exporter, accounting for 41.8% of all passenger car exports from India. At Rs 125 per share, the business has declared its highest-ever dividend.