The Board of Directors of Maruti Suzuki India Limited convened today to approve the financial results for the period Q3 (October-December) FY2023-24.
Highlights: Q3 (October-December), FY 2023-24
During the third quarter of the fiscal year 2023-24, Maruti Suzuki India Limited achieved significant milestones and demonstrated robust performance:
- Vehicle Sales: The Company recorded a remarkable total of 501,207 vehicles sold during the quarter. Despite challenges in the small car segment, the Company managed to achieve sales of 429,422 units in the domestic market. Furthermore, the Company achieved its highest-ever quarterly export figure, exporting 71,785 cars. In comparison, the same period in the previous year saw total sales of 465,911 units, comprising 403,929 units in the domestic market and 61,982 units in exports.
- Net Sales: Maruti Suzuki India Limited witnessed an increase in net sales during the quarter, reaching INR 318,600 million compared to INR 278,492 million in the corresponding period of the previous year.
- Net Profit: The Company reported a notable increase in net profit for the quarter, amounting to INR 31,300 million, marking a significant growth of 33.1% over the net profit of INR 23,513 million recorded in Q3FY2022-23.
Additional Read: Q3 Results Dashboard
Highlights: 9M (April-December), FY 2023-24
For the first nine months of the fiscal year 2023-24, Maruti Suzuki India Limited continued its trajectory of strong performance:
- Sales Volume: The Company achieved its highest-ever nine-monthly sales volume, selling a total of 1,551,292 units during the period. This represents a growth of 6.9% over the sales volume recorded in the same period of the previous fiscal year (9MFY2022-23). Sales in the domestic market stood at 1,346,965 units, while exports reached 204,327 units.
- Net Sales: Maruti Suzuki India Limited witnessed substantial growth in net sales during 9MFY2023-24, amounting to INR 982,403 million, reflecting a significant increase of 20.3% over the net sales of INR 816,790 million recorded in 9MFY2022-23.
- Net Profit: The Company reported a remarkable increase in net profit for the first nine months of FY 2023-24, reaching INR 93,316 million, which is 72% higher than the net profit of INR 54,256 million registered in the same period of the previous fiscal year (9MFY2022-23).
Additional Check: Maruti Suzuki Share Price
About Maruti Suzuki India Limited
Maruti Suzuki is a leading car manufacturer in India, offering a range of hatchbacks, sedans, MUVs, SUVs, and commercial vehicles. It is the Indian subsidiary of Japanese automaker Suzuki Motor Corporation. Maruti Suzuki has a dominant market share of 42 percent in the Indian passenger car market as of September 2022. Maruti Suzuki operates under two types of dealerships: Maruti Nexa cars and Maruti Arena cars. Maruti Nexa cars are premium cars that include models such as Fronx and Grand Vitara. Maruti Arena cars are affordable and fuel-efficient cars that include models such as Brezza, Swift, Ertiga, Alto K10, and Wagon R. Maruti Suzuki also provides various services and products such as driving schools, insurance, leasing, exchange, accessories, and parts. Maruti Suzuki is known for its innovation and customer satisfaction. It is working towards flex fuel compatibility and strong hybrid powertrains for its future models. Maruti Suzuki is also listed on the National Stock Exchange of India with the symbol MARUTI.
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Source: https://www.marutisuzuki.com/corporate/media/press-releases/2024/january/maruti-suzuki-financial-results-q3-and-9m-fy-2023-24
