Maruti Suzuki profit jumps 48% to Rs 3,878 cr in Q4
This growth surpassed market expectations and indicates a strong performance by the company during that period
Maruti Suzuki India, being the largest passenger car manufacturer in India, announced its financial results for the fourth quarter of the fiscal year 2023-24 (Q4FY24) on April 26. The notable highlight of these results was a significant 48% year-on-year increase in its net profit, reaching ₹3,878 crore. This growth surpassed market expectations and indicates a strong performance by the company during that period.
Maruti Suzuki India’s revenue from operations for the fiscal year ending on March 31, 2024, amounted to ₹1,40,933 crore, marking a significant 20% year-over-year increase from ₹1,17,523 crore in the previous fiscal year. This substantial growth in revenue indicates a strong performance across various segments of the company’s operations. The Board has put forward a year-end dividend proposal of ₹125 per share for the fiscal year 2023-24.
The Indian car manufacturer, Maruti Suzuki has also maintained its position as the top exporter of passenger vehicles from India for the third consecutive year. It now contributes a notable 41.8% share of the total passenger vehicle exports from the country, as the company reportedly achieved total sales milestone of Two million units. This sustained leadership in exports highlights Maruti Suzuki’s competitive edge in international markets and its ability to meet the demands of global consumers.
The company witnessed a surge in its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) by 40% year-over-year to ₹4,685 crore in the March quarter, compared to ₹3,344 crore in Q4 FY23. This significant increase in EBITDA shows improved operational efficiency and profitability during the fiscal year. Furthermore, the EBITDA margins for Q4 FY24 stood at 12.25%, marking a notable increase from 10.44% in the same period last year.
“We expect the rail transportation of cars to increase rapidly in the coming years. I strongly believe that the new government which is coming up in less than 2 months will propel the economy to phenomenal levels.” R.C. Bhargava, chairman of Maruti Suzuki.
Overall, Maruti Suzuki’s strong financial performance in Q4FY24 reflects its ability to adapt to market dynamics, capitalize on opportunities, and effectively manage its operations. This reinforces its position as a leading player in the Indian automotive industry.