On the back of higher sales, softening commodity prices and cost reduction, countrys 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.
(With UNI inputs)
