Maruti Suzuki Q4 net profit up 48% at Rs 3,878 cr, revenue up 19%
Pune: Maruti Suzuki, India’s biggest car maker, on Friday reported a standalone net profit of Rs 3,878 crore for the fiscal fourth quarter, up 48 per cent from the year-ago period due to higher sales volume and favourable commodity prices.
The maker of popular models Swift and Grand Vitara reported 19.3 per cent rise in its revenue from operations to Rs 38,235 crore in Q4 of FY24, compared to Rs 32,048 crore in the year-ago period.
The company declared its highest-ever dividend of Rs 125 per share.Maruti said it has achieved its highest-ever annual sales volume, exports, net sales and net profit.The company’s annual sales volume surpassed 2 million units, powering it as the top exporter of passenger vehicles for the third consecutive year.Maruti is confident of its overseas shipments crossing 3 lakh units in FY25 as it scales up to meet the export target of up to 8 lakh units by 2030.
“I strongly believe that the new government which is coming up in less than two months will propel the economy to phenomenal levels,” said RC Bhargava, chairman at Maruti Suzuki India, who sounded upbeat about the business environment in the country.For the entire financial year, the automaker recorded a 64.1 per cent year-on-year surge in net profit at Rs 13,209.4 crore from Rs 8,049.2 crore.
its revenue from operations also went up 19.9 per cent to Rs 1.41 trillion, compared to Rs 1.18 trillion reported at the end of FY23.Maruti Suzuki sold a total of 2,135,323 vehicles during the year, witnessing a growth of 8.6 per cent over that in FY23.
Sales volume in the domestic market stood at 1,852,256 units, and exports at 283,067 units.In the fourth quarter, the company sold a total of 584,031 vehicles, higher by 13.4 per cent compared to the same period in the previous year.“For the first time, the company surpassed the annual total sales milestone of 2 million units in FY2023-24,” the company said in a statement.Maruti has recently expanded the manufacturing capability at its Manesar plant in Haryana by 1 lakh units per year, taking the total capacity to 9 lakh vehicles per year at the unit.
