Maruti Suzuki Q2 Results 2023: Net profit to rise 50%, revenue growth seen at 25%

In this article, we will look at the Maruti Suzuki Q2 Results Preview. The results of Quarter 2 of Maruti Suzuki have been seen in the net profit has raised 50% and there is a revenue growth of 25% on volumes. The biggest car manufacturer in India is expected to report the highest earnings on the back of healthy volumes, softer commodity costs, and a rich product mix. This news has been recently announced on the web. This is the biggest news of current time in India. Now to learn everything about Maruti Suzuki Q2 results, read this article till the end of this article.

Maruti Suzuki

Maruti Suzuki Q2 Results 2023

Maruti Suzuki is all ready to announce the July-September quarter results for the fiscal 2023-24 (Q2FY24) on 27th October 2023, Friday. The largest car manufacturer in India is now back in healthy volumes, softer commodity costs, and a rich product mix. This has happened to estimate by the analysts and leading brokerage houses. The biggest car manufacturer of India, Maruti Suzuki has now highlighted in the FY23 annual report so it is officially expected at a 6% compound annual growth rate (CAGR) till FY31 for the Indian passenger vehicle industry. Scroll down to the next paragraph of this article to know more.

It is looking like that in FY24, Maruti Suzuki might have some chances to grow at a higher rate than the market. Management has demanded from the export volumes to grow at around 750,000-800,000 units by FY31 which is implying at around 14 to 15% CAGR, if it is compared to FY23. This might imply a 7 to 7.5% CAGR in the overall volumes for the entire firm till FY23. If we look at the business of Maruti Suzuki in September 2023, the company sold a total of 1,81,343 units at 3.9% on year which rose from 1,76,306 units has been sold in the same period in 2022. The domestic sales of Maruti Suzuki stood at 1,58,832 units in September 2023 a 2.5% rise from 1,54,903 units in the 2022 corresponding period.

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Cars like the Maruti Suzuki Alto, Maruti Suzuki Swift, and Maruti Suzuki S-Presso were the top-selling cars and compact segment cars in September this year. Maruti Suzuki Alto and S-Presso have logged total sales of 10,351 units in the last month which is down from 29,574 units sold in 2022 at the same period. The exports of the Maruti Suzuki vehicles have stood up to 22,511 units in the last month which is compared to 21,403 units that were exported in September last year.

Prakash Israni
Prakash Israni

Prakash, the content creator for Techballad, has built a solid reputation for himself over the course of more than ten years of blogging