Maruti Suzuki Q4 ResultsMaruti Suzuki India on Wednesday reported a 42 per cent rise in consolidated net profit to Rs 2,671 crore for the fourth quarter ended March 2023, driven by higher sales, better realizations and favorable foreign exchange movement.
The country’s largest carmaker earned a net profit of Rs 1,876 crore in January-March of 2021-22. Maruti Suzuki India (MSI) said in a regulatory filing that net sales rose to Rs 32,060 crore during the fourth quarter from Rs 26,749 crore in the year-ago period.
For the full 2022-23, MSI posted a consolidated net profit of Rs 8,211 crore as against Rs 3,879 crore in 2021-22. Net sales in the last financial year stood at Rs 1,17,571 crore as against Rs 88,330 crore in 2021-22.
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The company said its board has approved creation of additional capacity of up to one million cars per annum to meet projected market demand, including exports. In the fourth quarter, the company said, it sold a total of 5,14,927 vehicles, up 5.3 per cent year-on-year.
In the January-March period, sales in the domestic market stood at 4,50,208 units, up 7.1 per cent over Q4 FY22. The auto major said sales in the export market stood at 64,719 units as against 68,454 units in the March quarter of FY12.
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In 2022-23, the company said, it would sell a total of 19,66,164 vehicles, despite a reduction in production by around 1,70,000 units due to lack of electronic components. This translated to a 19 percent increase in sales volume to 1,652,653 vehicles in FY 2021-22.
MSI said the sales volume for the year included 17,06,831 units in the domestic market and highest exports of 2,59,333 units.
The company’s board recommended an all-time high dividend of Rs 90 per share as against Rs 60 per share in FY 2021-22. Shares of the company closed at Rs 8,503.15, up 0.26 per cent, on the BSE.