Maruti Suzuki reports 47.8% surge in Q4 net profit driven by strong sales & product mix
Maruti Suzuki Friday met street estimates to report a 47.8% increase in net profit at Rs 3,877.8 crore for the fourth quarter ended March 31, 2024 driven by strong sales and better product mix.
Brokerage firm Prabhudas Lilladher had expected the company to post a 48% in net profit at Rs 3,884 crore in the quarter under review. Revenues were expected to grow 21.2% to Rs 38,838.2 crore.
Net sales of the company rose 19% to Rs 36,697.5 crore in the three months to March 2024. Total expenses went up by 16.3% to Rs 34,355.1 crore in the same period.
The mix of utility vehicles, the brokerage had said, increased to 36.7% last quarter from 26% in the year-ago period which is aiding the company to expand margins.
Shares of Maruti Suzuki closed at Rs 12,755.95 apiece, down by 1.16% on the Bombay Stock Exchange (BSE).
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