New Delhi4 days ago
Maruti Suzuki on Wednesday (26 April 23) declared its fourth quarter (Q4FY23) results ending March 2023. The company’s net profit for the quarter grew 43% year-on-year to Rs 2,624 crore. It was Rs 1,839 crore in the same quarter last year.
The company’s revenue has increased by 20% to Rs 32,048 crore, which was Rs 26,740 crore last year. The board has approved a dividend of Rs 90 per share for FY23. In addition, in-principle approval has been given for additional manufacturing of 10 lakh vehicles every year.
The total existing capacity at Manesar and Gurugram is around 1.3 million units. The investment to increase the capacity will be finalized in due course.
Maruti Suzuki sold a total of 514,927 vehicles
Maruti Suzuki sold a total of 514,927 vehicles during the quarter under review, registering a growth of 5.3% over the same period last year. In the fourth quarter, sales in the domestic market stood at 450,208 units, up 7.1% over Q4FY22. Talking about exports, 68,454 units were sold in Q4FY22. Whereas in Q4FY23 the company could sell only 64,719 units.
Highest ever sales volume recorded
Maruti said, despite the lack of electronic components, it has recorded the highest ever sales volume. The annual turnover of the company has crossed Rs 1 lakh crore. Net profit more than doubled from Rs 3,766 crore to Rs 8,049 crore in FY22. Maruti shares closed up 0.19% at Rs 8,485 amid the results.
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