Media365
Maruti Suzuki India Ltd., (MSIL), India’s biggest passenger car company, for the third quarter ended December 31, 2024 reported a 12.6% growth in net profit to ₹3,525 crore.
The margin improvement is attributed to favourable operating leverage and higher non-operating income. The company during the quarter it had incurred higher sales promotional expense, possibly to beat the down trend. The company did not specify the amount spent.
During the quarter, the company registered net sales income of ₹36,802 crore against ₹31,860 crore in the same period last year, up 15.5%.
For the period under review the company sold a total of 5,66,213 vehicles as compared with 5,01,207 units sold in the same period last year, up 13%.
This included domestic market sales of 466,993 units, up 18.7% Year on Year (YoY). The company during the quarter exported 99,220 units, up 38.2% YoY.
Segment wise the company’s mini segment cars saw 2.8% growth in sales at 27,855 units, the compact segment witnessed de-growth of 4.6% to 1,82,227 units, the mid- size segment grew 17.6 to 1,720 units.
While the Utility Vehicles (UV) segment grew 20.2% to 1,85,298 units, the vans segment grew 2.1% to 33,920 units, the Light Commercial Vehicles (LCV) segment grew 9.3% to 8,871 units.
Sales to other OEMs, specifically to Toyota Kirloskar Motor, during the quarter grew 89% to 27,102 units.
The company’s Board on Wednesday approved a scheme of amalgamation of Suzuki Motor Gujarat Private Ltd (SMGPL), a wholly owned subsidiary, with MSIL.
The scheme is subject to the receipt of approval from the requisite majorities of shareholders and creditors of SMG and MSIL and approvals from respective National Company Law Tribunals.
On October, 29, 2024 the company had intimated that its board of directors had granted its in-principle approval for amalgamation.
Published – January 29, 2025 07:18 pm IST
