Maruti Suzuki Q2 Net Profit Soars 80% on Higher Sales, Cost Cuts

27 Oct 2023 , 03:20 PM

Maruti Suzuki India, the country’s largest passenger car manufacturer, has reported a standalone net profit of Rs 3,716.5 crore for the quarter ending in September 2023. This represents a significant increase of 80.28% compared to the Rs 2,061.5 crore net profit in the same quarter of the previous year. The company attributes this growth to factors such as increased non-operating income, lower commodity prices, improved net sales, and cost-cutting initiatives.

Maruti Suzuki’s standalone revenue in Q2 FY24 also saw strong growth, rising by 23.8% to Rs 37,062.1 crore from Rs 29,930.8 crore year-on-year.