Maruti Suzuki India Limited Q2 Results 2023

Read this story to learn about Q2- highlights, performance, earnings, dividend updates, market performance, etc.,

Highlights of the Result

· The standalone revenue during the quarter stood at ₹37,062.1 Cr · Net profit for Q2 FY’24 stood at ₹3,716.5 Cr · The EBITDA for Q2 FY 2023-24 stood at ₹ 4,784 Cr, an increase of 72.8% YoY

Performance Highlights

· Maruti Suzuki's standalone revenue increased by 23.8% YoY · The Profit after tax (PAT) saw a remarkable surge of 80.28% YoY · The EBITDA margin of Maruti Suzuki India Ltd. rose 360 basis points to 12.9% YoY

Business Highlights

· Highest ever quarterly sales volume: 550,000+ units · Passenger vehicle wholesales up by ~8% · Largest exporter of Passenger Vehicles from India, with ~69,000 units exported · Highest ever quarterly sales of CNG vehicles: ~118,000+ units

Key Reasons for Margin Movement

Positive Factors: · Relatively Better Sales Volume Leading to Improved Capacity Utilisation · Favourable Foreign Exchange Variation Negative Factors: · Higher Sales Promotion Expenses · Lower Non-Operating Income

Source: Maruti Suzuki India Limited Financial Report – Q2 Report, BSE