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Country’s largest carmaker Maruti Suzuki India Ltd. (MSIL). reported fourth-quarter net profit rose 47.8% to ₹3,877.8 crore compared with ₹2,623.6 crore in the year-earlier period.
“This was on account of higher sales volume, favourable commodity prices, cost reduction efforts and higher non-operating income,’ the company said in a filing.
During the quarter, the compared registered a net sales of ₹36,697.5 crore against ₹30,821.8 crore in the same period of the previous year. In the fourth quarter ended March 31, 2024, the company sold a total of 5,84,031 vehicles, up 13.4% over the year-earlier period. For FY24, the company reported net profit of ₹13209.4 crore, up 64% compared with ₹8049.2 crore in FY24.
For the year, the company registered net sales of ₹1,34,937.8 crore, up 19.9% over the previous year.
For the first time, the company surpassed the annual total sales milestone of 20 lakh units in FY24.
MSIL sold a total of 21,35,323 vehicles during the year, up 8.6% from the previous year.
The board has recommended the highest-ever dividend of ₹125 per share (face value of ₹5 per share) compared with ₹90 per share in FY23. The company’s share price declined 1.7% to ₹12,687.05 on the BSE on Friday.
