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The company’s net profit increased on account of higher sales volume, favourable commodity prices, cost reduction efforts and higher non-operating income.
Net sales jumped 19.06% year on year (YoY) to Rs 36,697.5 crore in the quarter ended 31 March 2024.
Profit before tax increased 53.55% to Rs 4,997.8 crore in Q4 FY24 from Rs 3,254.8 crore recorded in the corresponding quarter previous year.
The company sold a total of 5,84,031 vehicles in Q4 FY24, registering a growth of 13.4% as compared to 5,14,927 vehicles sold in the same period a year ago.
The auto major's sales in the domestic market stood at 5,05,291 units (up 12.2% YoY) and sales in the export market was at Rs 78,740 units (up 21.7% YoY) during the period under review.
Operating EBIT in Q4 FY24 was at Rs 3,956 crore, recording a growth of 51.5% on YoY basis.
On full year basis, the company's net profit soared 64.10% to Rs 13,209.4 crore on 19.94% rise in net sales to Rs 1,34,937.8 crore in FY24 over FY23. The company sold a total of 21,35,323 units during the period, up 8.6% YoY.
Meanwhile, the company's board has declared a dividend of Rs 125 per equity share for FY24. The record date for the purpose of payment of dividend is 3rd September 2024.
Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components, and spare parts (automobiles).
Shares of Maruti Suzuki slipped 1.70% to settle at Rs 12,687.05 on the BSE.
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