Maruti Suzuki, on Wednesday, reported its fourth quarter net profit jumped 42 per cent on-year at Rs 2670.80 crore. This, however, fell short of CNBCTV18 estimates of Rs 2773 crore. The company’s revenue for the quarter ended March 2023 stood at Rs 32059.60 crore,up 19 per cent from Rs 26,740 crore in the same quarter last year. Maruti Suzuki also approved a dividend of Rs 90 for equity share with a face value of Rs 5 each compared to Rs 60 per share in FY 2021-22. The company’s operating EBIT stood at Rs 2611.10 crore.
The passenger car major credited the margin movement to better sales volume leading to improved capacity utilisation, improved realization, cost reduction efforts, favorable foreign exchange variation, and higher non-operating income.
Maruti Suzuki’s performance
Maruti Suzuki registered total sales volume for the fourth quarter of FY23 at 514,927 units, up 5.3 per cent from the previous year’s 488,830 units. However, total sales volume for the financial year 2023 stood at 1,966,164 units. The sales in the domestic market stood at 450,208 units and the export market stood at 64,719 units. In terms of domestic market, during the quarter, maximum sales came from compact segment (225,570 units) followed by UVs (105,957 units).
For the full year ending March, Maruti Suzuki’s annual turnover crossed the Rs 1 lakh crore mark. “In its 40th anniversary year, despite the shortage of electronic components, the company recorded its highest-ever annual sales volume. The annual turnover of the Company surpassed Rs 1 lakh crore mark,” the company said.