Maruti Suzuki reported its earnings for the quarter ended March after market close on Friday.
What Happened: The auto manufacturer reported a consolidated net profit of ₹3,952 crore in the March quarter, marking a 47% year-on-year increase from the ₹2,687 crore profit posted in the same quarter last year.
Revenue for the January-March period grew by 19.4% to ₹38,471 crore from the ₹32,213 crore posted in the same period last year. The numbers were mostly inline with consensus estimates.
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In terms of sales performance, Maruti Suzuki sold a total of 5.84 lakh vehicles during the Jan-March period, reflecting an 13.4% year-on-year increase. Domestic sales accounted for 5.05 lakh units, up 12% YoY, while exports stood at 78,740 units, up 21% YoY. For the first time, the company surpassed annual total sales milestone of 20 lakh units in FY2023-24.
The company also approved a ₹125/share dividend for the year ended March 2024.
Price Action: Maruti Suzuki's share price ended 1.26% lower at ₹12,760 on Wednesday.
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