Maruti Suzuki rises as Q3 PAT soars 132% YoY to Rs 2,351 cr

Maruti Suzuki India gained 2.35% to Rs 8,621.25 after the auto major's standalone net profit zoomed 132.5% to Rs 2,351.3 crore on 25.52% jump in net sales to Rs 27,849.2 crore in Q3 FY23 over Q3 FY22.

The company's profit before tax surged 141.79% to Rs 2,954.2 crore in Q3 FY23 from Rs 1,221.8 crore posted in the corresponding quarter previous year.

Operating EBIT soared 131% to Rs 2,123 crore in Q3 FY23 from Rs 919 crore reported in Q3 FY22. Operating EBIT margin improved to 7.6% as on 31 December 2022 as against 4.1% as of 31 December 2021.

Maruti Suzuki India sold a total of 465,911 vehicles during the quarter. Sales in the domestic market were 403,929 units and exports were 61,982 units. Shortage of electronic components impacted production by about 46,000 vehicles in this quarter. This was against total sales of 430,668 units comprising 365,673 units in domestic and 64,995 units in export markets in the same period, previous year.

Pending customer orders stood at about 363,000 vehicles at the end of this quarter out of which about 119,000 orders were for newly launched models, the company said.

Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components, and spare parts (automobiles).

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