Maruti Suzuki India Limited (MSIL), a subsidiary of Japanese car maker Maruti Suzuki, has posted a huge profit in the January-March quarter of this year. The company posted a net profit of Rs 3,952 crore in the fourth quarter ended March. This is 47 percent higher than Rs 2,687 crore in the same quarter of 2023. News The Hindu.
Maruti Suzuki saw the jump in profit mainly due to increase in car sales, favorable product pricing and other income. In this quarter, the company’s overall income increased by 20 percent to Rs 39,654 crore. The overall revenue in the same quarter a year ago was Rs 33,150 crore.
In the three months of January-March, the company sold 5 lakh 84 thousand 31 units of cars in India. In the same period of 2023, 5 lakh 14 thousand 927 units were sold. Accordingly, car sales increased by 13.4 percent.
Meanwhile, Maruti Suzuki India’s overall net profit for FY 2023-24 was Rs 13,488 crore, which is about 63.23 percent higher than Rs 8,263 crore in FY 2022-23.
The total income of the company has increased by 21 percent in the last financial year. Its amount stands at 1 lakh 45 thousand 951 crore rupees, which was 1 lakh 20 thousand 674 crore rupees in the financial year 2022-23. The company has sold a total of 21 lakh 35 thousand 323 units in the financial year 2023-24, which is 8.6 percent higher than the 19 lakh 66 thousand 164 units of the financial year 2022-23.
MSIL Chairman RC Bhargov told reporters, “Due to last year’s high sales, the entire sector may see a little less growth this year. In this case, Maruti Suzuki is moving forward with the expectation of double digit profit this year”.