Maruti Suzuki profit jumps 42 pc in fourth quarter

New Delhi: Country’s largest carmaker Maruti Suzuki on Wednesday posted a jump of 42.34 per cent in its net profit to Rs 2,670 crore for the quarter ended March 31, 2023 (Q4 FY23), against Rs 1,875 crore in the year-ago period.

During the March quarter of FY23, revenue from operations rose 20.82 per cent to Rs 30,823 crore, against Rs 25,513 crore in the corresponding period the previous year, according to a statement shared with the stock exchanges by the carmaker. Total expenditure for the reviewed quarter was at Rs 29,546.9 crore, against Rs 25,024.2 crore in the same quarter last year, which is a surge of 18 per cent.

As on March 31, 2023, inventories were valued at Rs 4,283 crore, against Rs 3,532 crore in the year-ago period.

Total assets were at Rs 84,596 crore during the reviewed quarter, against Rs 74,655 crore in the corresponding period of the previous year.

Total equity and liabilities were valued at Rs 84,596 crore during the reviewed quarter, against Rs 74,655 crore in the year-ago period.

Automaker Maruti Suzuki India’s net profits during the October-December 2022 quarter (Q3 FY23) were at Rs 2,351 crore, about 132 per cent higher than what was reported in the same quarter last year.

“The landmark export of 2.5 million vehicle stands as a testimony to India’s manufacturing prowess. This feat demonstrates Maruti Suzuki’s resolute commitment to the Government’s flagship @makeinindia initiative”- Mr. H. Takeuchi, MD & CEO (2/2)

— Maruti Suzuki (@Maruti_Corp) March 29, 2023

In Q2 FY22 (October-December 2021), the net profits were at Rs 1,011 crore.

Further, the auto major’s revenue from operations during Q3 FY23 was at Rs 29,044 crore as compared to Rs 23,246 crore same quarter last fiscal. Revenues were about 25 per cent higher year-on-year. The Board of Directors of Maruti Suzuki India Limited had approved the financial results for October-December 2022.