Maruti Suzuki Q2 Net Profit Rises Four Times, Highest Ever Quarterly Sales

Maruti Suzuki, the largest automaker in India, reported a net profit for the September quarter that was nearly four times higher at Rs 2,061.5 crore on Friday. In the same quarter of the previous fiscal year, the company has a net profit of 475.3 crores.

For the quarter under review, Maruti Suzuki’s revenue from the operations increased by 46% to Rs 29,931 crore.

At 517,395 units, the total sales volume for the quarter was 36 percent greater than the prior year, making it the largest sales volume for any quarter. 4.54 lakh units were sold domestically and 63,195 units were exported.

Increased demand and higher sales volumes led to better capacity utilisation and higher profitability.

At the end of the September FY23 quarter, the firm said that there were over 412,000 pending client orders of which approximately 130,000 vehicle pre-booking were for freshly introduced models.

Maruti Suzuki stated that in order to further increase margins, actions are being taken to ensure the availability of electronic components, lower costs and boost realization. Production was reduced by around 35,000 automobiles throughout the quarter due to storage of electrical components. 

On the BSE, the stock increased by 3.90 percent to 9,399.35.