Thanks to higher sales volume and product mix, Maruti Suzuki said its net sales stood at Rs 35,535.10 crore for the quarter against Rs 28,543.50 crore in the same quarter last year. In the September quarter, Maruti Suzuki India Ltd reported highest-ever quarterly sales volume, net sales and net profit friday.
Compared with Rs 2,061.5 crore in the corresponding quarter last year, the largest carmaker in India said its profit for the quarter grew 80.3 percent year-on-year (YoY) to Rs 3,716.5. The profit growth print beat analyst estimates of up to 70 per cent growth.
Due to the higher sales volume and product mix, Maruti Suzuki has stated that the net sales for the quarter has risen 24.5 percent (YoY) to Rs 35,535.10 crore against Rs 28,543.50 crore in the same quarter last year; in line with brokerage estimates. Against Rs 2,046.30 crore YoY, operating Ebit for the quarter was up 95 percent YoY at Rs 3,990.10 crore.
Shares of Maruti Suzuki India climbed 3.20 per cent to Rs 10,759.65 level on BSE following the results announcement. Maruti Suzuki sold 5,52,055 vehicles during the quarter. The automobile major said that the Sales in the domestic market stood at 482,731 units while exports stood at 69,324. Comprising 4,54,200 units in domestic and 63,195 units in export markets, the same period in the previous year had seen total sales of 5,17,395 units.
Furthermore, compared with Rs 53,830 crore in the comparable period last year, Maruti Suzuki said its sales for the first half of FY24 stood at Rs 66,380 crore. The auto giant has made a net profit of Rs 62,01 crore in H1FY2024 against Rs 3,074 crore in H1FY2022-23.
