Maruti Suzuki Reports 33.25% Surge in Net Profit, Reaching Rs 3,206 Crore for Q3 Ending December
Maruti Suzuki, India’s leading car manufacturer, witnessed a significant uptick in net profit, registering a robust 33.25% increase to Rs 3,206 crore for the third quarter concluding in December. This noteworthy growth contrasts with the Rs 2,406 crore recorded in the corresponding October-December period of 2022.
The company disclosed consolidated revenue figures of Rs 33,512 crore, reflecting a substantial 14.56% year-on-year surge compared to the same period in the preceding fiscal year, where revenue stood at Rs 29,251 crore.
Maruti Suzuki’s shares on the Bombay Stock Exchange (BSE) closed at Rs 10,183.30 apiece, marking a 2.27% increase from the previous closing value.
The surge in consumer spending during the festive season, which encompassed a significant portion of the third quarter, contributed to elevated sales. Notably, increased demand for higher-priced SUV models like the Grand Vitara and Brezza positively impacted the overall sales volume for Maruti.
However, sales of smaller cars, including popular models like the Alto and the Baleno, experienced a decline throughout the year and extended into the December quarter. This decline is attributed to the impact of high inflation, which restrained spending in rural areas, a crucial market segment for the small car segment.
Sun Pharma Reports 16.52% Rise in Consolidated Net Profit for Q3
Sun Pharmaceutical Industries announced a consolidated net profit of Rs 2,523.8 crore for the third quarter ending December 31, reflecting a notable 16.52% increase compared to the Rs 2,166 crore reported in the corresponding period the previous year.
The company’s total revenue from operations during the reviewed quarter amounted to Rs 12,380.7 crore, surpassing the Rs 11,240.97 crore recorded in the same period a year ago.
Total expenses for the quarter were higher at Rs 9,560.74 crore, up from Rs 8,943.38 crore in the corresponding quarter of the previous fiscal year.
The board of Sun Pharma declared an interim dividend of Rs 8.50 per share for the fiscal year FY24, exceeding the Rs 7.50 per share interim dividend declared for the previous year.