Maruti Suzuki reported a significant surge in net profit for the March 2024 quarter, reaching Rs 3,877.8 crore compared to Rs 2,623.6 crore in the same period last year, marking a remarkable 48% increase. The company’s revenue from operations also experienced a notable uptick, rising by 19% to Rs 36,697.5 crore in Q4 FY24, compared to Rs 30,821 crore in Q4 FY23. Additionally, sales volumes witnessed a robust growth of 13.4%, climbing to 584,031 units in the March 2024 quarter from 514,927 units in the corresponding quarter of the previous fiscal year.
In light of these impressive financial results, Maruti Suzuki’s board recommended a final dividend of Rs 125 per share, the highest ever offered by the company. Furthermore, earnings per share for the auto firm soared to Rs 123.34 in Q4 FY24, compared to Rs 86.85 in Q4 FY23.
On an annual basis, Maruti Suzuki showcased remarkable performance, with revenue from operations increasing by 20% to Rs 1,34,937.8 crore in FY24, up from Rs 1,12,500.8 crore in FY23. Net profit also witnessed a substantial jump of 64.10% to Rs 13,209.4 crore in FY24, compared to Rs 8,049.2 crore in FY23. Earnings per share for the fiscal year reached Rs 431.08, a significant increase from Rs 266.46 in FY23.
Maruti Suzuki Chairman RC Bhargava highlighted the company’s achievements, including the commencement of production at the fourth unit of Suzuki Motor Gujarat and surpassing the annual total sales milestone of 2 million units in FY2023-24 for the first time. The company also maintained its position as the top exporter in India for the third consecutive year.
