Maruti Suzuki Faces Profit Slide Despite Revenue Growth

Maruti Suzuki India reported an 18% decline in year-on-year net profit for Q2 2024, totaling Rs 3,102 crore. Despite this dip, total revenue rose slightly to Rs 37,449 crore. Shares dropped 5.88% on the BSE, trading at Rs 10,807.50 each.

Maruti Suzuki India, a leading name in the automotive industry, announced an 18% reduction in its consolidated net profit for the second quarter ending September 2024, totaling Rs 3,102 crore.

This figure reflects a notable decrease from the Rs 3,786 crore net profit recorded during the same period last year. Meanwhile, the company's total revenue from operations witnessed a slight increase to Rs 37,449 crore, compared to Rs 37,339 crore in the corresponding quarter of the previous fiscal year.

Despite the revenue growth, Maruti Suzuki's shares experienced a downturn, declining by 5.88%, and were trading at Rs 10,807.50 on the Bombay Stock Exchange.

(With inputs from agencies.)