Maruti Suzuki’s Profit Skyrockets 33% in Q3FY24, Hits ₹3,130 Crore Amidst SUV Surge and Robust Sales Growth

Maruti Suzuki's Q3FY24 net profit soared 33% to ₹3,130 crore, driven by strong SUV demand. Revenue rose 14.68% to ₹33,308.7 crore. Vehicle sales increased 7.57%, with 501,207 units sold despite a slow, small car market, boosting domestic sales by 6.3%.
Maruti Suzuki Q3 33% Profit Jump, SUVs Drive Sales Surge

Maruti Suzuki, India’s leading car manufacturer by sales, reported a significant 33% increase in its standalone net profit for the third quarter of FY24, reaching ₹3,130 crore, up from ₹2,351.3 crore in the same period last year. This growth is attributed to the robust demand for its SUVs. The company’s standalone revenue also saw a notable rise of 14.68% in Q3FY24, reaching ₹33,308.7 crore compared to ₹29,044.3 crore year-over-year.

During the December quarter, Maruti Suzuki witnessed a 7.57% increase in vehicle sales, selling 501,207 units compared to 465,911 units in the same quarter of the previous year. Despite a sluggish performance in the small car segment, the firm’s domestic market sales grew 6.3% to 429,422 units from 403,929 units year-over-year.

A significant highlight for the company was recording its highest-ever quarterly exports, with 71,785 units in Q3FY24, a 15.8% increase from 61,982 units year-over-year. Maruti Suzuki also achieved a new milestone in 2023 by surpassing annual sales of 2 million units for the first time.

The company’s EBITDA for the quarter ending December 2023 rose by 38% to ₹3,908 crore, up from ₹2,833 crore year-over-year. Additionally, the EBITDA margin improved by 190 basis points to 11.7% from 9.8%, driven by lower commodity prices, better capacity utilization, cost reduction efforts, and increased realization.

Read more: Nova Agritech’s Impressive Debut: 36.5% Above IPO Price

As of 2:05 pm, shares of Maruti Suzuki were trading at ₹10,160.00 on the BSE, marking a 2.04% increase.

Read More News
Stock Market Today : बाज़ार की शानदार ओपनिंग, निफ्टी 23,550 के पार, सेंसेक्स में भी उछाल!

Stock Market Today : बाज़ार की शानदार ओपनिंग, निफ्टी 23,550 के पार, सेंसेक्स में भी उछाल!

Share Market Today : BSE सेंसेक्स और निफ्टी 50 ने मजबूत शुरुआत की, क्रमशः 200 अंक की बढ़त के साथ 23,550 से ऊपर, जो सकारात्मक शुरुआत दर्शाता है और सत्र के लिए आशावादी रुख स्थापित करता है।




Trade Intraday and Futures & Options