Maruti Suzuki’s Q3 Profit Doubles to Rs 2,351 crore, Revenue up by 25%

National, 24th Jan 2023: Maruti Suzuki, India’s largest carmaker, announced its financial results for the third quarter of the fiscal year, and the numbers look very promising.

The company reported a profit of Rs 2,351 crore ($320 million), which is double the profit it had made in the same quarter last year. The company’s revenue also increased by 25% YoY to Rs 25,702 crore ($3.5 billion).

This strong performance can be attributed to a combination of factors, including the company’s strong product portfolio, improving market conditions, and a focus on cost management.

The company has been able to increase its market share in the passenger vehicle segment, and it has also seen strong growth in its export markets.

Maruti Suzuki has also seen a strong demand for its new models, such as the WagonR, S-Presso, and the XL6, which have been very well received by customers.

The company has also been able to increase its market share in the utility vehicle segment, thanks to the success of its models such as the Vitara Brezza and the S-Cross.

The company has also been able to improve its cost management, which has helped to boost its profit margins. Maruti Suzuki has implemented several cost-saving measures, such as reducing its dependence on imports, improving its production efficiency, and implementing new technologies.

In conclusion, Maruti Suzuki’s Q3 financial results are very promising, with the company reporting a profit of Rs 2,351 crore, which is double the profit it had made in the same quarter last year. The company’s revenue also increased by 25% YoY to Rs 25,702 crore.

The strong performance can be attributed to a combination of factors, including the company’s strong product portfolio, improving market conditions, and a focus on cost management. The company has been able to increase its market share in the passenger vehicle segment and also seen strong growth in its export markets.