Maruti Suzuki profit zooms 80 pc to 3,716.5 cr in Q2

New Delhi: On the back of higher sales, softening commodity prices
and cost reduction, country’s largest carmaker Maruti Suzuki on Friday
recorded 80.3% year-on-year increase in net profit at Rs 3,716.5 crore
for July-September quarter (Q2) of ongoing financial year 2023-24.
The company had posted a net profit of Rs 2,061.5 crore in the
corresponding period of the previous financial year 2022-23. During
the September quarter of FY24, the auto major registered net sales of
Rs 35,535.1 crore as against Rs 28,543.5 crore in the same period of the
previous year. The company recorded growth in revenue owing to
higher sales volume and product mix. “The company recorded its
highest-ever quarterly sale volume, net sales and net profit in this
quarter (Q2FY24),” Maruti Suzuki said in a statement. During the
July-September quarter of FY24, the company sold 552,055 vehicles.
Sales in the domestic market were 482,731 units while 69,324 cars
were exported. “The same period in the previous year had seen total
sales of 517,395 units comprising 454,200 units in domestic and 63,195
units in export markets,” the company said.

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