Maruti Suzuki vrooms 3% as net profit jumps two-fold and improvement in margin

Maruti Suzuki Share Price NSE: Shares of Maruti Suzuki (NSE: MARUTI) jumped more than 3 percent on Tuesday, after India's largest carmaker reported a more than two-fold year-on-year jump in net profit to Rs 2,351.3 crore for the quarter ended December 2022, far exceeding analysts' estimates. The icing on the cake, Maruti Suzuki's margin improved by 310 points compared with the year-ago period.Maruti Suzuki revenue expanded 24.9 percent to Rs 29,044.3 crore, according to an exchange filing.

According to Zee Business research, Maruti Suzuki's quarterly net profit was estimated at Rs 1,922 crore and revenue at Rs 27,379 crore.The company's margin — a key measure of profitability — improved by 310 basis points to 9.8 per cent compared with the year-ago period.

Total sales during the quarter stood at 4,65,911 vehicles, comprising domestic sales of 4,03,929 vehicles and exports of 61,982 vehicles, as shortage of electronic components impacted production by about 46,000 vehicles, Maruti Suzuki said.

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For the quarter ended December 2021, Maruti Suzuki had reported total sales of 430,668 vehicles, comprising domestic sales of 3,65,673 vehicles and exports of 64,995 vehicles.As of December 31, Maruti Suzuki's pending customer orders stood at about 3,63,000 vehicles, out of which, about 1,19,000 orders were for its newly-launched models, according to the statement.

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