Achi news desk-
This growth exceeded market expectations and indicates a strong performance of the company during that period
Maruti Suzuki India, being India’s largest passenger car manufacturer, announced its financial results for the fourth quarter of the financial year 2023-24 (Q4FY24) on 26 April. The highlight of these results was a significant 48% year-on-year increase in its net profit, reaching 3,878 crore. This growth exceeded market expectations and indicates a strong performance of the company during that period.
Maruti Suzuki India’s revenue from operations for the financial year ended March 31, 2024 stood at ₹1,40,933 crore, marking a significant increase of 20% year-on-year from ₹1,17,523 crore in the previous finances. This considerable growth in revenues indicates strong performance in various sectors of the company’s activity. The board has proposed a year-end dividend of ₹125 per share for the financial year 2023-24.
The Indian car manufacturer, Maruti Suzuki, also maintained its position as the leading exporter of passenger vehicles from India for the third consecutive year. It now contributes a prominent share of 41.8% of total passenger vehicle exports from the country, as the company has reportedly achieved an overall sales milestone of two million units. This continued leadership in exports underscores Maruti Suzuki’s competitive advantage in international markets and its ability to meet the demands of global consumers.
The company witnessed an increase in its EBITDA (earnings before interest, taxes, depreciation and amortization) by 40% year-on-year to $4,685 million in the March quarter, compared to $3,344 million in 4Q23. This significant increase in EBITDA shows an improvement in operational efficiency and profitability during the financial year. Furthermore, the EBITDA margin in the fourth quarter of 2024 was 12.25%, marking a notable increase from 10.44% in the corresponding period last year.
“We predict that rail transportation of cars will increase rapidly in the coming years. I strongly believe that the new government that will be established in less than two months will drive the economy to phenomenal levels.” RC Bhargava, Chairman Maruti Suzuki.
Overall, Maruti Suzuki’s strong financial performance in Q4FY24 reflects its ability to adapt to market dynamics, seize opportunities and effectively manage its operations. This strengthens its position as a leading player in the Indian automobile industry.
Published: April 27, 2024, 2:59 PM IST
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