Maruti Suzuki India’s second-quarter financial results showcased remarkable growth, with a notable 80.3% surge in net profit to Rs 3,716.5 crore. This impressive performance was attributed to several key factors, including the company’s highest-ever sales, lower commodity prices, cost-cutting measures, and increased non-operating income.
Financial Highlights
Maruti Suzuki India’s net profit soared from Rs 2,061.5 crore in the same quarter of FY23 to Rs 3,716.5 crore in the July-September period, marking a significant 80.3% increase. The company also achieved its highest-ever quarterly sales volume, net sales, and net profit during this quarter.
Sales and Revenue Growth
The company reported net sales of Rs 35,535.1 crore for the quarter, compared to Rs 28,543.50 crore in the previous fiscal’s same quarter. This substantial increase was attributed to higher sales volumes and a favorable product mix.
Vehicle Sales Performance
Maruti Suzuki sold a total of 5,52,055 vehicles during the quarter, reflecting a growth from 5,17,395 units sold in the second quarter of the previous year. Of these, 4,82,731 units were sold in the domestic market, while 69,324 units were exported.
Operational and Margin Analysis
The EBITDA margin for the quarter stood at 12.9%, marking a notable increase compared to the previous year. The EBITDA rose by nearly 73%, with the margin expanding by 360 basis points. Additionally, the company successfully reduced raw material costs as a percentage of sales, from 76.5% to 73.5%.
Ben Müller
