Maruti Suzuki Posts Higher Quarterly Net Profit on Stronger Sales — Update
By Kosaku Narioka
Maruti Suzuki India reported a rise in fourth-quarter net profit, thanks to sales growth and lower commodity prices.
The Indian automaker said Friday that net profit climbed 47% from a year earlier to 39.52 billion rupees ($474.6 million) for the three months ended March.
Fourth-quarter revenue increased 19% to INR384.71 billion as sales grew 13% to 584,031 vehicles. Besides sales growth, favorable commodity prices and cost cuts also helped boost the bottom line, the company said.
Its net profit margin improved to 10.6% from 8.5% a year earlier.
Maruti Suzuki posted record annual sales of 2.1 million units, including 283,067 units exported. Sport-utility vehicles led sales growth.
The company aims to nearly double its annual production capacity to four million vehicles over the next seven to eight years. Earlier this month, the automaker commissioned another assembly line to manufacture an additional 100,000 units a year at its Manesar facility near New Delhi.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
April 26, 2024 07:15 ET (11:15 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
3 Stocks to Buy and 3 Stocks to Sell After Earnings
-
Markets Brief: Is It Really a Surprising Quarter for Earnings?
-
After Earnings, Is Berkshire Hathaway Stock a Buy, a Sell, or Fairly Valued?
-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
What I Hope My 14-Year-Old Learned at Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Amazon Stock a Buy, a Sell, or Fairly Valued?
-
The 10 Best Dividend Stocks
-
3 Stocks With High Dividend Yields That Warren Buffett Likes
-
How to Invest Like Warren Buffett
-
Berkshire Hathaway Earnings: Strong Insurance Results Continue to Lift Revenue and Profitability
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?