Maruti Suzuki’s Q4 outcomes revealed
In the fourth quarter of FY24, Maruti Suzuki disclosed a net profit of Rs 3,877.8 crore, marking a 47.8% increase from the Rs 2,623.6 crore reported in the preceding quarter ending March of FY23. This uptick was attributed to heightened sales volume, favorable commodity prices, cost-saving initiatives, and increased non-operating income.
During the same period, the company’s revenue from operations amounted to Rs 38,234.9 crore, compared to Rs 32,048 crore recorded in the Q4 of FY23.
In FY24, the top player in the passenger vehicle market achieved sales of 2,135,323 vehicles, marking an 8.6% increase compared to FY23. Domestic sales accounted for 1,852,256 units, while exports totaled 283,067 units. In Q4, sales reached 505,291 units, reflecting a 12.2% year-on-year growth. Exports surged to 78,740 units, a notable 21.7% increase from the 64,719 units exported in Q4FY23.
Following the results announcement, RC Bhargava, Chairman of Maruti Suzuki, addressed the media, highlighting the company’s achievement of record-breaking annual sales volume, exports, net sales, and net profit, with annual sales volume exceeding 2 million units. Bhargava also emphasized Maruti’s continued position as the leading exporter of passenger vehicles in India for the third consecutive year.
Furthermore, Bhargava mentioned that the expansion of the Kharkhoda plant is progressing rapidly, with the first production line anticipated to commence operations before the conclusion of the current financial year, FY25.
