Maruti Suzuki Q4 net profit jumps 43% to Rs 2,624 cr

Chandigarh, April 26

Country’s biggest carmaker Maruti Suzuki India on Wednesday reported a 42.7% surge in profit after tax (PAT) of Rs 2,624 crore for the quarter ending March 31, 2023 as compared to Rs 1,839 crore a year ago.

During the quarter, the automaker reported net sales of Rs 30,821.8 crore as compared to Rs 25,514 crore in the same quarter last year. It sold a total of 5,14,927 vehicles during the quarter, higher by 5.3% compared to the same period previous year. In the quarter, the sales in the domestic market stood at 4,50,208 units, up by 7.1% over that in Q4FY22. The sales in the exports market were at 64,719 units as compared to 68,454 units in Q4FY22.

Declares dividend of Rs 90/share

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• During the quarter, the automaker reported net sales of Rs 30,821.8 crore as compared to Rs 25,514 crore in the same quarter last year
• It sold a total of 5,14,927 vehicles during the quarter, higher by 5.3% compared to the same period previous year
• The Board of Directors has recommended the highest-ever dividend of Rs 90 per share (on the face value of Rs 5 per share) compared to Rs 60 per share in FY22

In total, the carmaker sold 19,66,164 vehicles during the year despite missing production of about 1,70,000 units due to shortage of electronic components. This translated into a growth of 19% over FY22 sales volume of 16,52,653 vehicles. The sales volume in the year comprised 17,06,831 units in the domestic market and highest-ever exports of 2,59,333 units. In its 40th anniversary year, despite the shortage of electronic components, the company recorded its highest-ever annual sales volume. Also, the annual turnover of the company surpassed Rs 1 lakh crore-mark. The company was able to better its operating profit on account of higher sales volume, improved realisation from the market and favourable forex movement.

Meanwhile, the Board of Directors recommended the highest-ever dividend of Rs 90 per share (on the face value of Rs 5 per share) compared to Rs 60 per share in FY22.

In light of the estimated market demand including exports, the Board in principle approved the creation of additional capacity of up to one million vehicles per year.