Maruti Suzuki shares gain 4% despite a 17% decline in Q2 net profit 

Lakshmi Priya A Updated - October 30, 2024 at 03:13 PM.

Maruti Suzuki’s Q2 revenue rises marginally; Suzuki Motor Corporation in Japan announces collaboration with Toyota

Maruti Suzuki | Photo Credit: REUTERS

India’s largest carmaker Maruti Suzuki’s shares rose over 4 per cent to ₹ 11,456.80 on the BSE today, despite reporting a 17 per cent decline in its standalone net profit for the September 2024 quarter at ₹3,069 crore.

Suzuki Motor Corporation in Japan today announced a collaboration with Toyota in the field of electric vehicles.

Maruti Suzuki’s revenue from operations increased slightly to ₹37,449 crore, up 0.7 per cent, from ₹37,339 crore in the same quarter of the previous year.

During the quarter, Maruti sold a total of 541,550 vehicles, with 463,834 units sold domestically and 77,716 units exported. While domestic sales volume declined 3.9 per cent y-o-y, export volume grew 12.1 per cent compared to the same period last year, the company said.

“Festival season has been pretty good. Our retail sales compared to same period, starting from the end of Shradh till the end of Diwali, we are expecting that we will have roughly a 14 per cent growth (y-o-y) in the retail sales,” said RC Bhargava, Chairman, MSIL.

Published on October 30, 2024 08:33

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