Maruti Suzuki’s profit after tax grew by 47% in Q1

Mumbai: On the back of cost reduction efforts and favourable commodity prices, the country’s largest carmaker – Maruti Suzuki India (MSIL) – reported a 47% growth in its June quarter (Q1FY25) profit after tax (PAT) to Rs 3,650 crore. The street was expecting the carmaker to report a PAT of about Rs 3,450 crore in the reported quarter.

The carmaker had reported a PAT of Rs 2,485 crore during the same period last year. MSIL’s revenue grew by around 10% to Rs 35,531 crore in Q1FY25 from Rs 32,327 crore in the same quarter a year ago.

During the quarter, Maruti Suzuki sold a total of 521,868 vehicles, higher by 4.8% compared to the same period the previous year. Its export sales stood at 70,560 units, a growth of 11.6% over Q1FY24.

The volume and Maruti Suzuki’s expanding operating market was largely led by growing sales of SUVs as hatchback sales remained under pressure. The UV segment saw a volume increase of 29% in Q1FY25 while the entry-level segment’s volumes decreased by 4%.