Maruti Suzuki up 42.6% profit

firm declares dividend of Rs 90/share

Maruti Suzuki India Ltd on Wednesday reported a 42.6 percent rise in profit after tax (PAT) from Rs 1,838.9 crore in the quarter ended March 31, 2022 to Rs 2,623.6 crore in the quarter ended March 31, 2023.
In 2022-23 (FY23), PAT increased by 113.7 percent from Rs 3,766.3 crore in FY22 to Rs 8,049.2 crore.

The automaker reported net sales of Rs 30,821.8 crore during the quarter. In the same quarter last year, net sales were Rs 25,514 crore.
The company sold 514,927 vehicles during the quarter, up 5.3 percent compared to the same period last year. Domestic sales reached 450,208 units, up 7.1 percent from 4Q22.

Export market sales stood at 64,719 units compared to 68,454 units in Q4FY22
For the whole year, the company sold a total of 1,966,164 cars. This translated into an increase of 19 percent over FY22 sales volume of 1,652,653 vehicles.

The sales volume in the year represented 1,706,831 units on the domestic market and the highest ever export of 259,333 units.
The company also announced a dividend of Rs 90 per share.

Maruti Suzuki’s board of directors has approved the creation of a capacity increase of up to 1 million units due to growth in market demand.
The company also announced that Shigetoshi Torii has stepped down as permanent director designated as joint managing director (manufacturing and supply chain) effective April 26, 2023.

He continues to remain a non-executive director of the company.
On Wednesday, the company’s stock was trading in the green at Rs 8,501, according to the BSE website.


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