Maruti Suzuki Q2 profit vrooms to Rs 3,716.5 cr

Chennai, Oct 27 (IANS) India’s largest car maker Maruti Suzuki India Ltd on Friday said it had closed the second quarter of FY24 with an after tax profit of Rs 3,716.5 crore.

In a regulatory filing, the company said for the period ended September 30, its sales revenue stood at Rs 35,535.1 crore (Q2FY23 Rs 28,543.5 crore) and the net profit at Rs 3,716.5 crore (Rs 2,061.5 crore).

During the period under review, the company had sold 5,52,055 units up from 5,17,395 units sold during the corresponding period of the previous year.

According to Maruti Suzuki, during the Q2 of FY24, its material, employee, depreciation and other expenses went down as compared to Q2 of FY23.

The softening of commodity prices, cost reduction measures, better realisation and higher non operating expenses resulted in better margins.

Maruti Suzuki’s scrip with a face value of Rs 5 shot up to Rs 10,770 after opening at Rs 10,459.95. Later the scrip changed hands for Rs 10,758 range.