Maruti Suzuki Surges as Profit Soars by 47% in June Quarter

Shares of Maruti Suzuki India jumped nearly 2% after the company reported a 47% increase in net profit to Rs 3,650 crore for the June quarter. The stock reached a 52-week high, contributing to the Sensex and NSE Nifty's new lifetime highs. The company's sales figures also showed significant growth.

Shares of Maruti Suzuki India climbed nearly 2 percent on Thursday after the homegrown automobile major reported a 47 percent jump in net profit to Rs 3,650 crore for the June quarter.

On the NSE, the stock rose 1.73 percent to close at Rs 13,343.05 apiece. On the BSE, it settled at Rs 13,300.70 per piece, up by 1.01 percent. During the day, shares of the Gurugram-based automobile major hit a 52-week high of Rs 13,680 on the NSE and Rs 13,675 on the BSE.

The volume on the trading front was significant—20.40 lakh equity shares on NSE and 69,027 shares on the BSE. The 30-share Sensex climbed 126.21 points or 0.15 percent to settle at a new lifetime high of 81,867.55, while the NSE Nifty rose 59.75 points or 0.24 percent to an all-time closing high of 25,010.90.

According to a regulatory filing, Maruti Suzuki India reported a 47 percent jump in net profit to Rs 3,650 crore for the June quarter, driven by cost reduction efforts, favorable commodity prices, and foreign exchange gains. Net sales increased to Rs 33,875 crore, and the company sold 5,21,868 vehicles in the first quarter, a 5 percent increase from the previous fiscal period.

(With inputs from agencies.)