{"id":1261625,"date":"2023-08-05T04:50:15","date_gmt":"2023-08-04T23:20:15","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1261625"},"modified":"2023-08-05T04:50:50","modified_gmt":"2023-08-04T23:20:50","slug":"maruti-suzuki-earned-rs-27-6-crore-day-in-last-90-days-revenues-up-by-22","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/maruti-suzuki-earned-rs-27-6-crore-day-in-last-90-days-revenues-up-by-22\/","title":{"rendered":"Maruti Suzuki Earned Rs 27.6 Crore\/Day In Last 90 Days: Revenues Up By 22%"},"content":{"rendered":"\n

Maruti Suzuki India Limited (MSIL) recorded a substantial year-on-year (YoY) rise of 145.5 percent in its standalone net profit, amounting to Rs 2,485.1 crore in the first quarter of FY24. The company ascribed this surge in profits to factors such as increased sales volume, improved realization, cost reduction endeavors, and higher non-operating income.<\/p>\n\n\n\n

\"Maruti<\/figure>\n\n\n\n

MSIL’s Strong Q1 FY24 Performance<\/strong><\/p>\n\n\n\n

During the quarter, the revenue witnessed a 22 percent YoY growth, reaching Rs 32,326.94 crore. Analysts attribute<\/a> the robust financial performance in Q1 FY24 to the combination of healthy volume growth, price hikes, and a more varied product mix.<\/p>\n\n\n\n

Additionally, MSIL’s earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by 56 percent YoY, totaling Rs 2,983.1 crore, resulting in an expansion of the EBITDA margin by 200 basis points to 9.2 percent compared to the previous year.<\/p>\n\n\n\n

In Q1 FY23, the company’s Profit After Tax (PAT) amounted to Rs 1,012.80 crore, and the net revenue from operations was Rs 26,499.8 crore.<\/p>\n\n\n\n

The actual results surpassed the expectations of analysts, with five brokerage firms estimating a net profit of Rs 2,400 crore for the carmaker, representing an impressive 142 percent increase compared to the previous year’s Rs 1,012 crore. The average estimate for revenue from operations was Rs 25,500 crore, reflecting a substantial 20 percent growth over the figures of the previous year.<\/p>\n\n\n\n

Between April and June 2023, total sales, both in domestic and overseas markets, witnessed a 6.4 percent rise to 4,98,030 units, compared to the 4,67,931 units sold in the same period the previous year. In Q1 FY24, domestic sales reached 4,34,812 units, surpassing the 3,98,494 units sold in the same period the previous year.<\/p>\n\n\n\n

MSIL’s Response to Electronic Component Shortage and Acquisition Plans for EV Production<\/strong><\/p>\n\n\n\n

The company encountered difficulties caused by a scarcity of electronic components, leading to a quarter where over 28,000 vehicles could not be produced. By the end of the quarter, there were approximately 3,55,000 pending customer orders, and the company is making efforts to promptly fulfill these orders.<\/p>\n\n\n\n

Furthermore, MSIL’s board of directors granted approval to terminate the contract manufacturing agreement with Suzuki Motor Gujarat Private Ltd (SMG) and resolved to acquire all 100 percent shares of SMG from Suzuki Motor Corporation (SMC) before March 31, 2024. This acquisition will enable Maruti Suzuki to manufacture electric vehicles at the Gujarat facility, with no other alterations anticipated at the plant.<\/p>\n\n\n\n

As stated by MSIL Chairman R C Bhargava, the method of acquisition, including the amount to be paid to SMC, will be determined in a future board meeting.<\/p>\n","protected":false},"excerpt":{"rendered":"

Maruti Suzuki India Limited (MSIL) recorded a substantial year-on-year (YoY) rise of 145.5 percent in its standalone net profit, amounting to Rs 2,485.1 crore in the first quarter of FY24. The company ascribed this surge in profits to factors such as increased sales volume, improved realization, cost reduction endeavors, and higher non-operating income. MSIL’s Strong […]<\/p>\n","protected":false},"author":26,"featured_media":1261697,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[147],"class_list":["post-1261625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-maruti"],"acf":[],"yoast_head":"\nMaruti Suzuki Earned Rs 27.6 Crore\/Day In Last 90 Days: Revenues Up By 22% - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/maruti-suzuki-earned-rs-27-6-crore-day-in-last-90-days-revenues-up-by-22\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Maruti Suzuki Earned Rs 27.6 Crore\/Day In Last 90 Days: Revenues Up By 22% - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"Maruti Suzuki India Limited (MSIL) recorded a substantial year-on-year (YoY) rise of 145.5 percent in its standalone net profit, amounting to Rs 2,485.1 crore in the first quarter of FY24. 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