The domestic volume saw a decline of 3.9%, while export volume grew by 12.1% compared to the previous year's figures.Maruti Suzuki India, the country's largest automaker, reported an 18% decline in net profit to INR 3,069 crore in the second quarter of FY25, compared to INR 3,716 crore in the same quarter of the previous year. This drop is attributed to a provision of INR 837 crore due to the withdrawal of indexation benefit and a change in the tax rate on long-term capital gains on debt mutual funds, as stated in the Finance Act 2024.
During this quarter, Maruti Suzuki India's net sales were INR 35,589 crore, close to last year's figure of INR 35,535 crore for the same period. The company sold a total of 541,550 vehicles in the quarter, with domestic market volume at 463,834 vehicles and export volume at 77,716 vehicles. The domestic volume saw a decline of 3.9%, while export volume grew by 12.1% compared to the previous year's figures.
H1 of FY2025
For the first six months of the current fiscal year, Maruti Suzuki India recorded a net profit of INR 6,719 crore, an increase from INR 6,201 crore in H1 FY24. The company’s stock, however, fell by nearly 5.7% to INR 10,829.05 per share following the release of its financial results.
In the first half of the current fiscal year, the company sold a total of 1,063,418 units. This included 915,142 units sold in the domestic market and 148,276 units in the export market. While domestic sales experienced a slight decline of 0.3%, export sales volume grew by 11.9% year-on-year.
Milestone in production
Maruti Suzuki India also achieved a significant milestone by crossing the 1-crore cumulative production mark at its Manesar facility in Haryana. The facility became the fastest among Suzuki's global automobile manufacturing facilities to reach this milestone in just 18 years.
"Maruti Suzuki India's overall production capability stands at about 2.35 million units per annum. Since inception, the company has produced over 3.11 crore vehicles as of October 6," the company stated.
Despite the mixed performance, Maruti Suzuki India continues to be a leading player in the Indian automobile market, showing resilience through its substantial production and consistent sales.
