Maruti Suzuki Q2 Results: Standalone profit slides 17% YoY to Rs 3,069 crore, misses estimates

Maruti Suzuki India (MSIL) on Tuesday reported a 17% drop in its standalone net profit for the September quarter, at Rs 3,069 crore, compared to Rs 3,716.5 crore reported in the same period last year.

The profit figure was below Street estimates of Rs 3,525 crore.

The company's revenue from operations during the quarter stood at Rs 37,203 crore, a marginal increase of 0.37% compared to Rs 37,062 crore reported in the corresponding quarter of the previous financial year. The revenue also fell short of Street estimates of Rs 37,322 crore.


The company sold a total of 541,550 vehicles during the quarter, comprising 463,834 vehicles in the domestic market and 77,716 vehicles for export. While domestic volume declined by 3.9%, export volume grew by 12.1% compared to the same period last year.

The market reacted negatively to Maruti's earnings, as the stock fell to a day's low of Rs 10,794 on the NSE, plunging by 6% following the announcement.

The Profit Before Tax (PBT) for the quarter grew by 6.3% YoY to Rs 5,100 crore, marking the highest figure ever for the company.

In the six months ended September 30, 2024, MSIL sold a total of 1,063,418 units, comprising 915,142 units in the domestic market and 148,276 units in the export market. While domestic market sales declined by 0.3%, export sales volume grew by 11.9% year-on-year.

The company registered its highest-ever half-yearly net sales of Rs 69,464 crore in H1 FY2024-25, compared to Rs 66,380 crore in H1 FY2023-24. Net profit in H1 FY2024-25 was Rs 6,719 crore, up from Rs 6,202 crore in H1 FY2023-24.