Maruti Suzuki's Q3 profit more than doubles to Rs 2,351 crore | NewsBust Maruti Suzuki's Q3 profit more than doubles to Rs 2,351 crore | NewsBust

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Maruti Suzuki’s Q3 profit more than doubles to Rs 2,351 crore

By Amit - January 25, 2023

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Maruti suzuki Q3 Results: The net profit of the country’s leading automobile company Maruti Suzuki India (MSI) for the third quarter ended in December of the current financial year more than doubled to Rs 2,351.3 crore. Due to the huge jump in sales due to new products, the net profit of the company has increased. In the same quarter of the previous financial year, the company had earned a net profit of Rs 1,011.3 crore. In the information sent to the stock exchanges, the company said that its net sales increased to Rs 27,849.2 crore during the quarter, compared to Rs 22,187.6 crore in the same quarter of the previous financial year.

The country’s largest carmaker sold 4,65,911 vehicles during the quarter. The company sold 4,03,929 vehicles in the domestic market while exported 61,982 vehicles. In the same quarter in the previous financial year, the company had sold 4,30,668 vehicles, of which 3,65,673 vehicles were in the domestic market while 64,995 vehicles were exported.

MSI said that due to the introduction of new models of Grand Vitara and Brezza, there was a huge jump in its sales in the SUV category. The company said that in the third quarter, 3,63,000 vehicle bookings from customers are in the waiting period, of which about 1,19,000 vehicle bookings are for recently introduced models.

The company earned a net profit of Rs 5,425.6 crore in the first nine months of the current financial year till the end of December, which is more than double the Rs 1,927.4 crore in the same period of the previous financial year. The company said that it sold vehicles worth Rs 81,679 crore between April and December, which is more than Rs 58,284.1 crore in the same period of the previous financial year.

MSI said that in April-December 2022, the company sold 14,51,237 vehicles, of which 12,56,623 vehicles in the domestic market while 1,94,614 vehicles were exported. Whereas in April-December 2021, the company sold 11,63,823 vehicles, out of which 9,93,901 vehicles were sold in the domestic market, while 1,69,922 vehicles were exported.

Amit

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