Updated April 26th, 2024 at 16:26 IST

Maruti Suzuki Q4 net profit rises 48% on strong utility vehicle sales

Its revenue from operations rose 19.3% to Rs 38,235 crore as against Rs 32,048 crore in corresponding period last year.

Reported by: Business Desk
Maruti Suzuki Fronx | Image:Maruti Suzuki Fronx
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Maruti Suzuki Q4 earnings: The country's largest car maker Maruti Suzuki on Friday reported net profit of Rs 3,878 crore for quarter ended March 2024, marking an increase of 48 per cent from Rs 2,624 crore during the same period last year. The strong performance by Maruti Suzuki was driven by robust utility vehicle (UV) sales which rose by 71.5 per cent in the last quarter.

Its revenue from operations rose 19.3 per cent to Rs 38,235 crore as against Rs 32,048 crore in corresponding period last year.

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Maruti Suzuki's earnings before interest, taxes, depreciation, and amortisation (EBITDA) also known as operating profit rose 74 per cent 4,685 crore from Rs 2,698 crore and its operating profit margin improved 383 basis points to 12.26 per cent from 8.42 per cent in the year ago period.

Maruti Suzuki Invicto

For financial year 2023-24, Maruti Suzuki recorded net profit of Rs 13,209 crore, up 64 per cent from Rs 8,049 crore in FY2022-23.

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“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,” Maruti Suzuki said in a press release.

For FY2023-24, Maruti Suzuki sold a total of 21,35,323 vehicles during the year, a growth of 8.6 per cent over that in FY2022-23.

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During the fourth quarter of last financial year, Maruti Suzuki sold 5,84,031 vehicles, 13.4 per cent higher compared to the same period previous year. In the quarter, the sales volume in the domestic market stood at 5,05,291 units, up by 12.2 per cent over that in Q4FY2023-24. The sales volume in the export market was at 78,740 units, a growth of 21.7 per cent over exports of 64,719 units in Q4FY2022-23, the country’s largest car maker said.

The Board of Directors recommended highest-ever dividend of Rs 125 per share compared to Rs 90 per share in FY 2022-23.

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Maruti Suzuki shares ended 1.7 per cent lower at Rs 12,687, ahead of its earnings announcement.

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Published April 26th, 2024 at 16:09 IST