NEW DELHI: Maruti Suzuki on Friday reported its highest quarterly internet profit as rising share of SUVs fueled its gross sales whereas ease in commodity costs helped margins.
Consolidated internet profit in Jan-March (This autumn of FY24) soared 48% to Rs 3,878 crore when put next with Rs 2,624 crore in the identical interval a yr in the past, the corporate mentioned.
The firm, in which Japan’s Suzuki Motor Corporation holds 58.2% stake, bought 13.4% extra automobiles in the fourth quarter at over 5.8 lakh items (together with 78,740 items exported).Its materials value as proportion of gross sales dropped 190 bps to 74.2%.
Maruti bought 71.5% extra utility automobiles — largely SUVs and multi-purpose automobiles (MPVs) — at over 1.8 lakh. Utility car share was 36% in the March quarter, up from 24% final yr.
In an investor presentation, it attributed the rise in profit to “improved capacity utilisation, cost reduction efforts, softening of commodity prices, improved realisation and higher non-operating income.”
During the quarter, the corporate registered internet gross sales of Rs 36,697 crore in opposition to Rs 30,822 crore in the identical interval of the earlier yr.
For the complete fiscal yr (FY24), the corporate reported a 64% soar in internet profit to a report Rs 13,210 crore. Sales have been up 20% at Rs 1,34,938 crore in April 2023 to March 2024.
During the yr, the agency bought 2 million automobiles. The numbers “represent the company’s highest ever unit sales, net sales, and net profit both for the quarter and the financial year,” it mentioned.
Addressing a digital media briefing right here, the corporate’s chairman R C Bhargava mentioned it should begin manufacturing of the primary electrical car in the present fiscal. “As far as EV is concerned, we will start production in this financial year. We have a commitment to export the first lot of cars to Europe,” he mentioned.
The home market could not see EV automobiles in affordable numbers this monetary yr, he mentioned, whereas replying to a question.
The board of administrators advisable highest-ever dividend of Rs 125 per share (face worth of Rs 5 per share) for FY24 in contrast to Rs 90 per share in FY23.
Consolidated internet profit in Jan-March (This autumn of FY24) soared 48% to Rs 3,878 crore when put next with Rs 2,624 crore in the identical interval a yr in the past, the corporate mentioned.
The firm, in which Japan’s Suzuki Motor Corporation holds 58.2% stake, bought 13.4% extra automobiles in the fourth quarter at over 5.8 lakh items (together with 78,740 items exported).Its materials value as proportion of gross sales dropped 190 bps to 74.2%.
Maruti bought 71.5% extra utility automobiles — largely SUVs and multi-purpose automobiles (MPVs) — at over 1.8 lakh. Utility car share was 36% in the March quarter, up from 24% final yr.
In an investor presentation, it attributed the rise in profit to “improved capacity utilisation, cost reduction efforts, softening of commodity prices, improved realisation and higher non-operating income.”
During the quarter, the corporate registered internet gross sales of Rs 36,697 crore in opposition to Rs 30,822 crore in the identical interval of the earlier yr.
For the complete fiscal yr (FY24), the corporate reported a 64% soar in internet profit to a report Rs 13,210 crore. Sales have been up 20% at Rs 1,34,938 crore in April 2023 to March 2024.
During the yr, the agency bought 2 million automobiles. The numbers “represent the company’s highest ever unit sales, net sales, and net profit both for the quarter and the financial year,” it mentioned.
Addressing a digital media briefing right here, the corporate’s chairman R C Bhargava mentioned it should begin manufacturing of the primary electrical car in the present fiscal. “As far as EV is concerned, we will start production in this financial year. We have a commitment to export the first lot of cars to Europe,” he mentioned.
The home market could not see EV automobiles in affordable numbers this monetary yr, he mentioned, whereas replying to a question.
The board of administrators advisable highest-ever dividend of Rs 125 per share (face worth of Rs 5 per share) for FY24 in contrast to Rs 90 per share in FY23.
