Maruti Q3 net profit up 33% on rise in sales, SUV shift

New Delhi: Maruti Suzuki, India's top carmaker, recorded a 33% rise in fiscal third quarter net profit at ₹3,130 crore thanks to increased car sales and a shift towards higher margin-yielding sport-utility vehicles.

Net sales at the maker of Grand Vitara and Fronx SUVs grew 14% to ₹31,860 crore in the three months ended December 31.

Earnings before interest, tax, depreciation and amortisation or Ebitda during the quarter increased 38% from a year earlier to ₹3,908 crore. Ebitda margin improved by 190 basis points (bps) to 11.7% from 9.8% helped by easing commodity prices, improved capacity utilisation, cost reduction efforts and improved realisation.


The Suzuki Motor Corp. unit said it sold a total of 501,207 vehicles during the quarter. This comprised domestic sales of 429,422 units, clocking a 6.3% increase from a year earlier despite the small car segment-where the company has a dominant presence--staying subdued. The company also exported 71,785 cars--its highest-ever for a quarter.

Maruti recorded its highest-ever nine-monthly sales volume, net sales and net profit between April and December 2023, according to the company. During the period, the company sold a total of 1,551,292 vehicles, a 6.9% rise from a year earlier. Sales in the domestic market stood at 1,346,965 units and exports at 204,327 units.

Net sales in the nine months ended December 31 grew 20% to ₹98,240.3 crore. Net profit during the period surged 72% to ₹9,331.6 crore.

Shares of Maruti Suzuki closed 2.27% higher at ₹10,183.30 apiece on the BSE, outperforming a 0.86% rise in the benchmark index.