Maruti-Suzuki reports 2X jump in net profit to ₹8,184 crore in FY2023


auto news desk, Maruti Suzuki recorded its highest ever annual sales volume in 2023 selling a total of 19,66,164 vehicles, leading to a massive increase in overall profits for the manufacturer. The company’s annual turnover crossed one lakh crore in 2023 to reach ₹ 1,12,500 crore from ₹ 83,798 crore in FY 2021-22. The company registered a whopping growth of over 100 per cent in its operating profit (Rs 8184 crore in 2023) and net profit (Rs 2914 crore in 2023) as compared to FY 2021-22.

Maruti Suzuki Q4 net profit zooms 43% to ₹2,624 crore beating expectations, to add capacity of 1 million vehicles |  Business Insider India
Maruti Suzuki’s quarterly net sales revenue for January to March 2023 stood at Rs 30,821 crore, showing a growth of 20.8 per cent over the same period last year. Operating profit for the quarter stood at ₹2611 crore, representing a growth of 46.7 per cent over the previous year, while net profit increased by 42.7 per cent to ₹2623 crore over the same period last year. Due to global electronic parts shortage Production backlogged 170,000 vehicles. However, Maruti Suzuki in its statement said that despite this, they were able to register strong sales and profit numbers due to the popularity of their newly introduced models.

Its annual sales volume saw a growth of 19 percent over the previous year at 17,06,831 domestic sales. With the highest ever export count of 2,59,333 vehicles. Maruti Suzuki’s quarterly sales number from January to March 2023 stood at 5,14,927 vehicles, registering a growth of 5.3 per cent over the same period last year. This includes a 7.1 per cent increase in home sales from January to March 2023 as compared to the same period last year. However, the export numbers declined from 68,454 vehicles to 64,719 vehicles during this period.

Share this story

Leave a comment

Your email address will not be published. Required fields are marked *