Maruti Suzuki Q1 Results: Profit soars 47% YoY to Rs 3,650 crore, beats estimates

India's largest carmaker, Maruti Suzuki, reported a 46.9% year-on-year (YoY) increase in standalone profit for the June quarter, reaching Rs 3,650 crore, surpassing the Street estimate of Rs 3,467 crore.

However, Q1 revenue rose 9.82% YoY to Rs 33,875 crore, falling short of the estimate of Rs 34,770 crore.

Maruti's margins for the quarter were 12.6%, exceeding the 12% estimate from an ET Now poll. Following the earnings beat, the company's shares surged over 4% to a new record high of Rs 13,390 on the BSE.


In a regulatory filing, the auto major said the jump in profit was broadly on account of cost reduction efforts, favorable commodity prices, and foreign exchange.

During the quarter, it sold a total of 521,868 vehicles, higher by 4.8% compared to the same period the previous year. In the quarter, sales in the domestic market stood at 451,308 units, up by 3.8% over that in Q1FY24. The export sales were at 70,560 units, a growth of 11.6% over Q1FY24.

Maruti attributed the rise in margins to softening of commodity prices, cost reduction efforts, favourable operating leverage and favourable foreign exchange movement.

On a sequential level, its profit was down 5.9% while net sales also fell 7.7%.