On Friday, Maruti Suzuki India, the nation's leading automobile manufacturer, announced a notable 47.8% surge in net profit for the March quarter of FY24, reaching Rs 3,877.8 crore. This increase is attributed to heightened sales volume and advantageous commodity prices, as disclosed in a regulatory filing by Maruti Suzuki India, which compares favorably to the net profit of Rs 2,623.6 crore recorded in the corresponding period of the previous year.
In a significant milestone, the company achieved an annual total sales figure surpassing 2 million units for the first time in FY24. Additionally, Maruti Suzuki India retained its position as the foremost exporter for the third consecutive year, accounting for 41.8% of total passenger vehicle exports from India.
At the close of trading, Maruti Suzuki shares were priced at Rs 12,687.05 each on the BSE, reflecting a 1.7% decline from the previous day's closing price.