Automajor Maruti Suzuki India reported a 47 jump in its net profit on a year-on-year (YoY) basis in its first quarter (Q1) earnings on Wednesday. The carmaker logged a net profit of Rs 3,649.9 crore for the June quarter in the current 2024-25 fiscal year against a net profit of Rs 2,485.1 crore in the first quarter of the previous 2023-24 fiscal year.
The company recorded a 10 per cent increase in its revenue for the quarter ended June 30, 2024 on a year-to-year basis. It posted a revenue of Rs 35,531.4 crore for the quarter under review against its Q1 revenue of Rs 32,326.9 crore during the same quarter a year earlier.
The firm clocked a 3.8 per cent jump on a YoY basis in its domestic sales which touch 451,308 units in the June quarter. Overall vehicles sold during the quarter under review were 521,868, up by 4.8 per cent against the vehicles sold during the same period a year earlier. Exports for the automaker grew 11.6 per cent on a YoY basis and touched 70,560 units in the April-June quarter.
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The firm attributed the improvement in its margins to multiple factors such as a softening in commodity prices, favourable operating leverage, cost reduction measures undertaken by the firm, and helpful foreign exchange movements.
On Wednesday, the company clocked a rally in the share market. The firm closed the stock market session at Rs 13,167.95 apiece, marking a gain of 2.28 per cent in the day.
The company's Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) in the April-June quarter soared 49.1 per cent to Rs 4,448.3 crore against the corresponding quarter a year earlier. EBITDA is often used by companies as an alternative to net income to better understand their finances. The EBITDA margin for the quarter under review jumped to 12.5 per cent, the firm said.
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