Maruti-Suzuki Sees Over 2X Growth In Net Profit At Rs. 8,184 Crore In FY2023

Maruti Suzuki recorded its highest annual sales volume ever in 2023 selling a total of 19,66,164 vehicles, leading to a massive increase in overall profit for the manufacturer. The company’s annual turnover surpassed Rs. one lakh crore in 2023, with total net sales standing at Rs. 1,12,500 crore compared to Rs. 83,798 crore in FY 2021-22. The company also recorded massive surges of more than 100 per cent in its operating profit ( Rs. 8184 crore in 2023) and net profit (Rs. 2914 crore in 2023) when compared to FY 2021-22.

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Maruti Suzuki's total net sales stood at Rs. 1,12,500 crore

The quarterly net sales revenue of Maruti Suzuki from January to March 2023 stood at Rs. 30,821 crore which represents an increase of 20.8 per cent when compared to the same period last year. The operating profit for the quarter stood at Rs. 2611 crore representing a growth of 46.7 per cent over last year, while net profit rose by 42.7 per cent compared to the same period last year and stood at Rs. 2623 crore.

Maruti Suzuki says that its new product line up led to an increase in sales numbers despite the electronic component shortage

The global electronic component shortage led to a backlog in production of 1,70,000 units. However, Maruti Suzuki stated in its statement that despite this, they were able to register strong sales and profit numbers because of the popularity of its newly introduced models.

Its annual sales volume saw a growth of 19 per cent over the previous year at 17,06,831 domestic sales, along with the highest-ever export numbers of 2,59,333 units. Maruti Suzuki’s quarterly sales numbers from January to March 2023 stood at 5,14,927 vehicles, registering a rise in sales of 5.3 per cent as compared to the same period last year. This included a 7.1 per cent increase in domestic sales from January to March 2023 when compared to the same period, last year. However, export numbers fell to 64,719 units from 68,454 units during this period.