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Maruti Suzuki Q4 net profit up 42.6%; firm declares dividend of Rs 90/share

The automaker also declared a dividend of Rs 90 per share

Maruti Suzuki

BS Web Team New Delhi

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Maruti Suzuki India Ltd on Wednesday reported a 42.6 per cent rise in profit after tax (PAT) from Rs 1,838.9 crore in the quarter ending March 31, 2022, to Rs 2,623.6 crore in the quarter ending March 31, 2023.

In the year 2022-23 (FY23), the PAT was up 113.7 per cent from Rs 3,766.3 crores in FY22 to Rs 8,049.2 crore.

During the quarter, the automaker reported net sales of Rs 30,821.8 crore. In the same quarter last year, the net sales were Rs 25,514 crore.

The company sold 514,927 vehicles during the quarter, higher by 5.3 per cent compared to the same period previous year. The sales in the domestic market stood at 450,208 units, up by 7.1 per cent over that in Q4FY22. 

The sales in the export market were at 64,719 units as compared to 68,454 units in Q4FY22

In the whole year, the company sold a total of 1,966,164 vehicles. This translated to a rise of 19 per cent over FY22 sales volume of 1,652,653 vehicles. 

Sales volume in the year comprised 1,706,831 units in the domestic market and highest-ever exports of 259,333 units.

The company also declared a dividend of Rs 90 per share.

The board of directors of Maruti Suzuki approved the creation of capacity addition of up to 1 million units owing to growth in market demand.

The company also announced that Shigetoshi Torii has resigned from the post of the whole-time director designated as joint managing director (Production and Supply Chain) effective close of business hours of 26th April, 2023.

He shall continue to be a non-executive director of the company.

On Wednesday, the share of the company was trading in the green at Rs 8,501, according to BSE's website.

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First Published: Apr 26 2023 | 3:03 PM IST

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