Car major Maruti Suzuki on Tuesday, January 24, reported 129.55 per cent jump in consolidated net profit for quarter ended December 2022. The company’s net profit for the third quarter of Financial Year 2023 more than doubled on year to Rs 2,351 crore.
Maruti Suzuki said it registered its highest ever net sales of Rs 816,790 million in the period April to December 2022 as against INR 582,841 million in the same period FY2021-22.
During the October-December 2022 period, Maruti Suzuki reported a 25 per cent YoY jump in revenue from operations to Rs 29,044 crore. The country’s largest car maker reported a 82 per cent rise in its operating profit to Rs 21,230 million as against Rs 9,190 million in quarter three of FY2021-22.
Operating margin, on the other hand, improved by a sharp 3.04 per cent to 9.75 per cent. For the first time in 2 years, the automaker’s margin has surpassed 9.5 per cent.
Maruti Suzuki Q3FY23 Highlights
The car maker sold a total of 465,911 vehicles during the quarter. While sales in the domestic market were 403,929 units, exports accounted for 61,982 units. Shortage of electronic components impacted production by about 46,000 vehicles in this quarter. This was against total sales of 430,668 units comprising 365,673 units in domestic and 64,995 units in export markets in the same period, previous year.
Pending customer orders stood at about 363,000 vehicles at the end of this quarter out of which about 119,000 orders were for newly launched models.
During the quarter, Maruti Suzuki registered net sales of Rs 278,492 million. During the same period previous year, the net sales were at Rs 221,876 million.
The car maker, meanwhile, added that it saw its highest ever net sales of Rs 816,790 million in the April to December 2022 period as against Rs 582,841 million in the year ago period. During these nine months, Maruti Suzuki sold a total of 1,451,237 units, out of which 1,256,623 units were sold in the domestic market.
