Maruti Suzuki India Limited (MSIL) has reported a robust standalone net profit of Rs 3,130 crore in the December quarter, showcasing a remarkable 33 percent surge compared to the corresponding period last year. This outstanding performance can be attributed to a favorable product mix, increased realization, and enhanced volumes. In contrast, the Profit After Tax (PAT) for the same quarter in the previous year stood at Rs 2,351.3 crore.
Impressive Financial Metrics
The country’s largest car manufacturer witnessed a significant 15 percent rise in revenue, reaching Rs 33,309.7 crore in comparison to Rs 29,044.3 crore in the year-ago period. These results surpassed the predictions of analysts. Seven brokerage firms estimated MSIL’s profit at Rs 2,838 crore, reflecting a 21 percent increase, while the projected revenue was anticipated to rise by 15 percent to Rs 33,385 crore.
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The Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) exhibited remarkable growth, surging by 38 percent year-on-year to Rs 3,909 crore from Rs 2,833 crore. Furthermore, Maruti Suzuki’s EBITDA margin experienced a substantial improvement, rising by 190 basis points to 11.7 percent from 9.8 percent YoY. This positive trend can be attributed to factors such as softened commodity prices, enhanced capacity utilization, cost reduction initiatives, and improved realization.
Operational Highlights
During the quarter, MSIL reported the sale of a total of 501,207 vehicles, indicating a notable growth of 7.57 percent from the 465,911 units sold in the corresponding period of the previous year. Despite challenges in the small car segment, domestic market sales showed resilience, increasing by 6.3 percent to 429,422 units from 403,929 units in the year-ago period.
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Remarkably, Maruti Suzuki achieved its highest-ever exports in any quarter during Q3FY24, with 71,785 units, marking a significant 15.8 percent increase from the previous year’s 61,982 units. The company’s strategic efforts and market adaptability contribute to this commendable performance.
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