Maruti Suzuki India Ltd.'s standalone net profit soared 48% in the fourth quarter of fiscal 2024, meeting analysts' estimates.
India's largest carmaker posted a profit of Rs 3,878 crore in the quarter-ended March, according to an exchange filing on Friday. Analysts polled by Bloomberg had estimated the bottom line at Rs 3,839.2 crore in the January–March period.
Maruti Q4 FY24 Earnings Highlights (Standalone, YoY)
Revenue up 19% at Rs 38,235 crore (Bloomberg estimate: Rs 38,459.5 crore).
Net profit up 48% at Rs 3,878 crore (Estimate: Rs 3,839.2 crore).
Declared dividend of Rs 125 per share.
Ebitda up 40% at Rs 4,685 crore (Estimate: Rs 4,940 crore).
Margin at 12.3% vs 10.5% (Estimate: 12.8%).
Other Key Highlights
Maruti Suzuki registered highest-ever annual sales volume, exports, net sales and net profit.
Maruti Suzuki's annual sales volume surpassed 20 lakh units in the previous financial year.
It was the top exporter of passenger vehicles in India for the third consecutive year in FY24.
The company sold a total of 21,35,323 vehicles during the year, a growth of 8.6% on a yearly basis.
Maruti Suzuki registered net sales of Rs 1,34,937 crore in the previous financial year, an increase of 19.9% from the year-ago period.
It achieved a net profit of Rs 13,209 crore in the previous fiscal, up 64% year-on-year.
Management Highlights
Maruti Suzuki Chairman RC Bhargava said:
Maruti Suzuki is planning to add one new assembly line every 12 months.
It is pushing rail transport more than road transport for dispatching cars to dealers.
Maruti 3.0 on in full-swing, working in close coordination with Suzuki Motor Corp. to sell 40 lakh cars by March 31.
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