Maruti Suzuki Reports Strong October Production and Record Sales

3 Nov 2023 , 11:43 AM

Maruti Suzuki’s share price showed marginal gains on November 3, driven by positive production figures for October 2023. The company’s total production in October 2023 increased by 13 %, reaching 1,76,437 vehicles compared to 1,56,067 vehicles in October 2022.

Passenger Vehicle production also rose by 13 %, with 1,73,230 units produced in October 2023, up from 153,550 units in the same month the previous year. Light Commercial Vehicles production increased to 3,207 units, a growth from 2,517 units year-on-year.

In October 2023, Maruti Suzuki achieved its highest-ever monthly sales at 1,99,217 units, marking a 19 % year-on-year growth compared to 1,67,520 units in October 2022.

The company also reported its best-ever monthly domestic dispatches, reaching 1,77,266 units, a 21 % increase, and total domestic passenger vehicle sales reached 1,68,047 units in October 2023, up from 1,40,337 units in October 2022.

In the September quarter, Maruti Suzuki reported a net profit of Rs 3,716.5 crore, an impressive 80 % increase from the same period in the previous year. The EBITDA increased by nearly 73 %, and the margin expanded by 360 basis points year-on-year.

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