Maruti Suzuki Soars as Q3 PAT Rises 132% YoY

Maruti Suzuki India rose 5% to Rs 9,500 in intraday trade on Friday after the company reported a better-than-expected profit after tax.

After the net profit zoomed off 132.5% to Rs 2,351.3 crore on a 25.52% jump in net sales to Rs 27,849.2 crore in the October-December quarter of FY23 over the October-December quarter of FY22, Maruti Suzuki India gained 2.35% to Rs 8,621.25.

Profit before tax (PBT) surged 141.79% to Rs 2,954.2 crore in the October-December quarter of FY23 from Rs 1,221.8 crore posted in the October-December quarter of FY22.

Operating EBIT soared 131% to Rs 2,123 crore in Q3 FY23 from Rs 919 crore reported in Q3FY22. Operating EBIT margin improved to 7.6% as of December 31, 2022, against 4.1% as of December 31 2021.

Maruti Suzuki India sold a total of 465,911 vehicles during the quarter. A total of 403,929 units were sold domestically, and 61,982 units were sold abroad. At the end of the quarter, pending customer orders were approximately 363,000 vehicles, of which about 119,000 were newly launched models, according to the company statement.

The company is to manufacture, purchase and sell motor vehicles, spare parts (automobiles) and components.

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