Maruti Suzuki’s Q3 profit soars 33% to ₹3,206 crore

Maruti Suzuki India (MSIL), the country’s largest manufacturer of passenger vehicles (PVs), reported consolidated revenue of ₹33,512 crore for the third quarter (Q3) ended December 31. This represents a 14.56 per cent year-on-year (y-o-y) increase compared to ₹29,251 crore in the same period of the previous fiscal year.

The consolidated net profit also grew by 33.25 per cent y-o-y to ₹3,206 crore for the quarter in review, compared to ₹2,406 crore in the October-December period in 2022.

“The company sold a total of 5,01,207 vehicles during the quarter. Despite the small car segment continuing to be subdued, the company registered sales of 4,29,422 units in the domestic market,” MSIL said in a filing to BSE.

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The company exported 71,785 cars, its highest ever in any quarter. The same period in the previous year saw total sales of 4,65,911 units, comprising 4,03,929 units in the domestic market and 61,982 units in exports, it said.

MSIL also recorded its highest-ever nine-monthly sales volume, net sales, and net profit, selling a total of 15,51,292 units during the period, reflecting a growth of 6.9 per cent over April-December 2022.

Sales in the domestic market stood at 13,46,965 units, while exports stood at 2,04,327 units, it said.

It recorded a consolidated total revenue of ₹1,06,297 crore for the nine months ended December 31, compared to ₹87,658 crore in the corresponding period of the previous year.

Consolidated net profit of the company stood at ₹9,535 crore in the April-December period, higher than the ₹5,576 crore in the same period of the previous fiscal year.

Shares of MSIL closed at ₹10,183.30 apiece on the BSE, up 2.27 per cent from the previous close.