Results for Maruti’s first quarter: Compared to the same period last year, the business reported a net profit of Rs 2,485 crore for the quarter that ended on June 30. In Q1 FY24, operating revenue increased by 21.99% to Rs 32,327 crore from Rs 26,500 crore in the same quarter last year, according to Maruti’s exchange filing.
INTRODUCTION
The first quarter earnings for the fiscal year 2023–2024 (Q1 FY24) increased by 145.31 percent, according to the largest automaker in India, Maruti Suzuki India Ltd.
- In comparison to the same quarter last year, the company reported a net profit of Rs 2,485 crore for the quarter that ended on June 30.
- In Q1 FY24, operating revenue increased by 21.99% to Rs 32,327 crore from Rs 26,500 crore in the same quarter last year, according to Maruti’s exchange filing.
At the end of the quarter, there were around 3,55,000 pending client orders, and the company is working hard to fulfill these orders quickly, according to Maruti.
- The company’s net sales for the quarter were the highest ever, coming in at Rs 30,845.2 crore, up from Rs 25,286.3 crore in Q1 FY23.
- The manufacturer said in a separate filing today that its board has authorized ending the contract manufacturing arrangement and exercising the option to buy Suzuki Motor Gujarat Pvt Ltd (SMG) shares from Suzuki Motor Corporation (SMC).
- The automobiles that were previously supplied by SMG as a contract manufacturer will now continue to be supplied as before, thus there won’t be any changes in terms of actual production, logistics, sales, or the cost thereof, according to Maruti.
And as of August 1, 2023, for a three-year term, Yukihiro Yamashita has been appointed as director and full-time director designated as joint managing director (engineering and quality assurance).
CONCLUSION
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