Maruti Suzuki Q4 results: Net profit up 47% at Rs 3,877 cr, revenue up 19%

The automaker has declared its highest-ever dividend of Rs 125 per share. Shares of Maruti closed trading at Rs 12,687.05 on Friday

Auto manufacturer Maruti Suzuki India Ltd (MSIL) on Friday reported a standalone net profit of Rs 3,877.8 crore for the quarter ending on March 31 in financial year 2023-24 (Q4 FY24). This represents a 47.8 per cent increase year-on-year from Rs 2,623.6 crore reported during the same period last year. Sequentially, net profit went up 23.89 per cent from Rs 3,130 crore in Q3.

The company reported total revenue from operations at Rs 38,234.9 crore for the fourth quarter. This was a 19.3 per cent increase from Rs 32,048 crore reported during the same period last year. The company also reported a 14.79 per cent increase from Rs 33,308.7 crore in the last quarter.

For the entire financial year, the automaker recorded a 64.1 per cent year-on-year surge in net profit at Rs 13,209.4 crore from Rs 8,049.2 crore. Revenue from operations also went up 19.9 per cent to Rs 1.41 trillion, compared to Rs 1.18 trillion reported at the end of FY23.

Maruti Suzuki sold a total of 2,135,323 vehicles during the year, witnessing a growth of 8.6 per cent over that in FY23, the company said in an exchange filing.

Sales volume in the domestic market stood at 1,852,256 units, and exports at 283,067 units.

In the fourth quarter, the company sold a total of 584,031 vehicles, higher by 13.4 per cent compared to the same period the previous year.

"For the first time, the company surpassed the annual total sales milestone of 2 million units in FY2023-24," the company said.

The company has declared its highest-ever dividend of Rs 125 per share.