Maruti Suzuki Q1 Results: Net Profit Surges 47% to Rs 3,650 Crore, Sales Up 9.8%

Maruti Suzuki India, the country’s largest carmaker, on Wednesday reported a 47 per cent jump in its net profit to Rs 3,650 crore for the first quarter of the current financial year 2023-24. The rise in the net profit comes amid cost reduction efforts, favourable commodity prices and foreign exchange gains.

Maruti Suzuki’s net profit had stood at Rs 2,485 crore in the corresponding period last year, according to an exchange filing.

Its net sales during April-June 2024 increased 9.82 per cent to Rs 33,875 crore, compared with Rs 30,845 crore in the year-ago period.

The auto major said it sold 5,21,868 vehicles during the first quarter, up 5 per cent as compared to the same period previous fiscal.

The company said it sold 4,51,308 units in the domestic market in the first quarter, an increase of 4 per cent over the same period last fiscal. Export sales were at 70,560 units in the April-June quarter, a growth of 12 per cent over the first quarter of last fiscal.

Shares of the company ended 2.28 per cent up at Rs 13,167.95 apiece on the BSE.