Enhanced SUV lineup helps Maruti Suzuki doubles profits to Rs 2,351 cr

The brand's net sales surged to hit Rs 27,849.2 crore from Rs 22,187.6 crore for the same period in FY22.

FPJ Web DeskUpdated: Wednesday, January 25, 2023, 03:25 PM IST
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PTI

Maruti Suzuki is India's biggest car seller, and the firm is also set to challenge the EV market domination of Tata with its first e-car launch in 2025. But in the overall automobile sector, Maruti Suzuki India is going strong by doubling its net profit to Rs 2,351.3 crore for the October to December quarter, thanks to sales backed by an upgraded product lineup.

This is a major jump from the Rs 1,011.3 crore profit that Maruti Suzuki had clocked for the same period of FY22. The brand's net sales surged to hit Rs 27,849.2 crore from Rs 22,187.6 crore for the same period in FY22.

Big ticket launches such as Grand Vitara and Brezza's enhanced version, has helped it maintain high market share in the SUV segment with improved sales volumes.

Reducing costs, favourable foreign exchange levels and lower commodity prices, also helped margins, apart from non-operating income. The scarcity of electronic components due to restrictions abroad, led to a shortfall of 46,000 vehicles manufactured during the quarter. But net sales for the April to December period were still the highest ever at more than 81,000 core, compared to Rs 58,284.1 crore in the same time in FY22.

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