Maruti Suzuki India Ltd. announced on Wednesday that its consolidated net profit for the quarter that ended on December 31, 2023, increased by 33% year over year (YoY) to Rs 3,206.8 crore. In the same period last year, the company reported a net profit of Rs 2,406.1 crore.
Maruti's consolidated revenue from operations increased 14.4% year over year to Rs 31,860 crore in the current fiscal year's third quarter. In the previous year, the company's operating revenue was Rs 27,849.2 crore. EBITDA for the third quarter of FY24 totaled Rs 3,908 crore, with 11.7 percent margin.
Maruti Suzuki's shares increased by 2.83 percent to Rs 10239.70 on Wednesday after the company's quarterly results were released, fetching a valuation of over Rs 1.4 lakh crore. The last trading session saw the stock end at Rs 9957.25.
Maruti Suzuki said in a statement that it sold 5,01,207 cars overall during the quarter. In the domestic market, the company recorded sales of 429,422 units, despite the fact that the small car segment is still somewhat muted. It further said, "It shipped 71,785 cars, its highest-ever total in any quarter.
For the nine months that concluded on December 31, 2023, Maruti Suzuki had a net profit of Rs 9,331.6 crore, a 72% YoY increase over the same period the previous year, when its net profit was Rs 5,425 crore. During the reviewed period, it reported operating revenue of Rs 98,240.3 crore, up 20.3 percent year over year.
Maruti sold a total of 15,51,292 units during the April-December 2023 period, up about 7 percent YoY. Sales in the domestic market stood at 13,46,965 units and exports at 2,04,327 units. The company recorded its highest-ever nine-monthly sales volume, net sales and net profit.
