Maruti Suzuki's Q4 Net Profit Soars 47.8% to Rs 3,877.8 Crore

Maruti Suzuki India reported a 47.8% increase in net profit to Rs 3,877.8 crore in the March quarter due to higher sales and favorable prices. The company surpassed 2 million units sold for the first time and remained the top exporter of passenger vehicles from India. However, its share price fell 1.7% to Rs 12,687.05 at the close of trading.

The country's largest car maker Maruti Suzuki India on Friday reported a 47.8 per cent rise in net profit for the March quarter of FY24 to Rs 3,877.8 crore, on account of higher sales volume and favourable commodity prices.

The auto major had reported a net profit of Rs 2,623.6 crore in the year-ago period, Maruti Suzuki India said in a regulatory filing.

''For the first time, the company surpassed annual total sales milestone of 2 million units in FY24. The company continued to be the top exporter for the third consecutive year, now contributing 41.8 per cent of total passenger vehicle exports from India,'' the company stated.

Maruti Suzuki shares were trading at Rs 12,687.05 apiece at the day's close, down 1.7 per cent from its previous close on the BSE.