Riding on record sales, Maruti’s Q4 profit jumps 48% to Rs 3,878 cr

Vijay C Roy

CHANDIGARH, APRIL 26

The country’s largest passenger carmaker Maruti Suzuki India Limited on Friday reported the highest-ever net profit of Rs 3,878 crore for the quarter ending March 31, 2024, which was up by 48 per cent year-on-year (YoY) from Rs 2,624 crore reported in the same period in 2022-23.

Over 2 million units sold in FY24

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• In FY2023-24, the country’s largest carmaker sold two million cars, marking the company’s highest-ever unit sales
• It also reported a 64% jump in net profit to a record Rs 13,209.4 cr. Sales were up 20% to Rs 1,34,937.8 crore in 2023-2024

This was on account of higher sales volume, favourable commodity prices, cost reduction efforts and higher non-operating income. During the quarter, the company registered net sales of Rs 36,697.5 crore against Rs 30,821.8 crore in the same period of the previous financial year. The carmaker sold a total of 5,84,031 vehicles, including exports during the quarter, higher by 13.4 per cent compared to the same period previous year.

For the entire fiscal (2023-24), the automaker achieved a net profit of Rs 13,209.4 crore, 64 per cent higher than the net profit of Rs 8,049.2 crore in FY2022-23.

The company registered net sales of Rs 1,34,937.80 crore in FY2023-24, a growth of 19.9 per cent over the net sales of Rs 1,12,500.8 crore in FY2022-23.

Overall, the company sold a total of 21,35,323 vehicles during the year, a growth of 8.6 per cent over that in FY2022-23. For the first time, the company surpassed annual total sales milestone of 20 lakh units in FY2023-24. The company continued to be the top exporter for the third consecutive year, now contributing 41.8 per cent of total passenger vehicle exports from India. The company has announced the highest-ever dividend of Rs 125 per share.