Maruti Suzuki Q4 profit up 43% at Rs 2,624 cr, adds 10 lakh capacity

 PUNE: Maruti Suzuki, India’s biggest car maker on Wednesday said its standalone net profit jumped 43 per cent year-on-year (YoY) to Rs 2,624 crore for the fourth quarter ended March.

It was Rs 1,839 crore in the same period last year.

The Delhi-based auto major’s revenue from operations grew 20 per cent year-on-year to Rs 32,048 crore for the March quarter.

On the operating front, EBITDA (earnings before interest, taxes, depreciation and amortization) jumped 38 per cent to Rs 3,350 crore and margins improved 130 basis points on-year to 10.4 percent.

The company sold a total of 514,927 vehicles during the quarter, higher by 5.3 per cent compared to the same period previous year.

The board of directors recommended the highest-ever dividend of Rs 90 per share, according to the exchange filing.

The development on the capacity addition front is a big positive, as per analysts.

“In light of the estimated market demand, including exports, the board in principle approved the creation of additional capacity of up to 10 lakh vehicles per year amid rising demand,” the company said.

However, the investment and timelines for the capacity addition were not shared but it said it will use internal accruals for the investment.

The capacity expansion will aid 13 lakh units’ production in Manesar and Gurugram plants, along with vehicles supplied by Suzuki Motor Gujarat.

The annual turnover of the company surpassed Rs 1 lakh crore mark.

Net profit for the year more than doubled to Rs 8,049 crore from Rs 3,766 crore in FY22.