Country’s largest passenger vehicle maker Maruti Suzuki India is expected to report one of its best results today, backed by higher sales volume in the financial year (FY) 2022-23.
According to analysts, the company is expected to beat the estimates with new product additions in the last fiscal.
In the third quarter ended December 31, 2022 MSIL had reported more than double (129 per cent) in its consolidated net profit on year-on-year (YoY) basis at ₹2,391 crore as compared with ₹1,042 crore in the same period previous fiscal.
Consolidated revenue from operations also grew 25 per cent YoY at ₹29,057 crore during the October-December quarter, as against ₹23,253 crore in the same period in FY2021-22.
The company had sold 4,65,911 units during the last quarter, with 4,03,929 units sold in the domestic market and 61,982 units exported, MSIL said.
New products
With the new product lines also in the pipeline, the analysts expect MSIL to attain a dominant position in utility vehicles. The company launched products such as the all-new Grand Vitara, new Brezza, new Baleno and new XL6 in the last fiscal, which are drawing customer’s attention.
And, on Monday it launched the all-new Fronx SUV starting at ₹7.46 lakh (ex-showroom) and is expected to launch the much awaited Jimny SUV next month.
The company on Tuesday also announced of upgrading its entire range of vehicles including hatchbacks, sedans, SUVs, MPVs and commercial vehicles, to meet the stricter emission norms under the BS6 regime.
They are now compliant with the new BSVI Phase-II real driving emissions (RDE) regulations, alongside being compatible with E20 fuel as well.
The new RDE compliant Maruti Suzuki cars feature an enhanced on-board diagnostics (OBD) system to monitor emission control systems in real-time and will notify drivers in case of any malfunction, the company said.