Maruti Suzuki India Limited, the nation's leading passenger car maker, on Wednesday reported a massive 46.9 per cent surge in net profit in the April-June quarter of the current fiscal to ₹3,649.9 crore from ₹2,485.1 crore in the same quarter of 2023-24.
This was helped out by effective cost management, positive commodity prices, and revenues from foreign exchange. Maruti Suzuki net sales during the quarter were at ₹ 33,875.3 crores versus ₹ 30,845.2 crores in the three months ended December 2018.
Maruti Suzuki sold 521,868 vehicles in Q1 of 2024-25, up 4.8 per cent over the same period last year. Domestic sales stood at 451,308 units, an increase of 3.8 per cent over Q1FY24. Export sales at 70,560 units were also 11.6 per cent higher than the same period last year.
Its shares jumped 3.67% to ₹1,334.6 following the declaration on the NSE. Maruti Suzuki is also firming up plans to set up a new automobile production plant in Gujarat with an investment of ₹35,000 crore. The new plant would start operation in FY2028-29, scaling its output to 1 million units.
Apart from this, Maruti Suzuki will also dedicate ₹3,200 crore for a fourth production line at Suzuki Motor Gujarat Pvt Ltd while ramping up electric vehicle output. The fourth line will most likely be ready by FY2026 and would lift the annual capacity of Suzuki Motor Gujarat from 750,000 units to 1 million. Besides the new plant, the total capacity in Gujarat will go up to 2 million units.
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