The country’s largest car company, Maruti Suzuki India, has delivered excellent results in the second quarter of the current financial year. The company’s net profit for the August-October quarter (Maruti Suzuki q2 net profit) rose 80.3 percent to Rs 3,716.5 crore. The company (Maruti Suzuki) said in a statement on Friday that it achieved this profit on the back of better sales, softening of commodity prices, cost-cutting efforts and higher non-operating income.
Net sales of the company
According to the news, the net profit of MSI (Maruti Suzuki India) in the same quarter of last fiscal was Rs 2,061.5 crore. The company said that the net sales registered in the quarter under review stood at Rs 35,535.1 crore as against Rs 28,543.50 crore in the same quarter last fiscal. MSI sold 5,52,055 vehicles in the July-September quarter. Of these, 4,82,731 vehicles were sold in the domestic market while the remaining 69,324 were exported.
Sales in the September quarter were excellent
The company (Maruti Suzuki) sold 5,17,395 vehicles in September 2022. Maruti Suzuki said its sales volume, net sales and net profit in the September quarter were higher than any quarter till date. According to Maruti Suzuki, during Q2FY24, its equipment, personnel, depreciation and other expenses declined compared to the second quarter last year.
Margins improved due to easing commodity prices, cost-cutting measures, better collections and reduction in other expenses. After opening at Rs.10,459.95, the stock price of Maruti Suzuki touched Rs.10,770. The share later touched the mark of Rs 10,758.
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