Maruti Suzuki Q3 results: Profit jumps 33% to Rs 3,207 cr; stock rises 3%

Maruti Suzuki India Ltd on Wednesday reported a 33 per cent jump in the consolidated net profit on a year-on-year (YoY) at Rs 3,206.8 crore for the quarter ended on December 31, 2023. The company had reported a net profit at Rs 2,406.1 crore in the year ago period.

Maruti's consolidated revenue from operations grew 14.4 per cent YoY to Rs 31,860 crore for the third quarter of the ongoing fiscal. The company's revenue from operations came in at Rs 27,849.2 crore in the year ago period. Ebitda for the Q3FY24 came in at Rs 3,908 crore for the quarter with margins coming in at 11.7 per cent.

Following the announcement of quarterly results, shares of Maruti Suzuki surged about 2.83 per cent to Rs 10239.70 on Wednesday, commanding a total valuation of more than Rs 1.4 lakh crore. The scrip had settled at Rs 9957.25 in the previous trading session.

Maruti Suzuki sold a total of 5,01,207 vehicles during the quarter, said the company in its statement. "Despite the small car segment continuing to be subdued, the company registered sales of 429,422 units in the domestic market. It exported 71,785 cars, its highest-ever in any quarter," it added.

Maruti Suzuki clocked a net profit of Rs 9,331.6 crore for the nine months ended in December 31, 2023, surging 72 per cent YoY, compared to a year ago period where its net profit stood at Rs 5,425 crore. It reported a revenue from operations of Rs 98,240.3 crore, a growth of 20.3 per cent YoY, during the period under review.

Maruti sold a total of 15,51,292 units during the April-December 2023 period, up about 7 per cent 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.

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