According to Bloomberg, last quarter, India’s largest automaker, Maruti Suzuki India Co., Ltd. (Maruti Suzuki India Ltd.
), beat expectations due to outstanding sales of SUV models.
Maruti Suzuki, Maruti Suzuki, said in a stock exchange filing on April 26 that net profit for the three months ended March 31 rose 48% from a year earlier to 38.
8 billion rupees ($466 million), slightly above analysts’ average expectations of 38.
39 billion rupees.
The company noted that the profit growth was “due to increased sales, favourable commodity prices, cost reduction measures and an increase in non-operating income”.
However, Maruti Suzuki’s quarterly revenue was lower than expected, rising 19 per cent year-on-year to 382.
3 billion rupees, while total expenditure rose 16 per cent to 343.
6 billion rupees, with raw material costs up 10 per cent from the same period last year.
In addition, the company announced a dividend of 125 rupees per share.
Bloomberg pointed out that India’s emerging middle class has a high demand for SUV models, so Maruti Suzuki’s shift of focus from small hatchbacks to SUV models has paid off handsomely.
According to the Association of Indian Automobile Manufacturers (Society of Indian Automobile Manufacturers), the company sold 642286 multi-purpose vehicles, including SUV, cross-border vehicles and minivans, in the year to March 31, surpassing other carmakers.
Maruti Suzuki’s shares rose 22% last quarter, making it one of the best performers in the Sipp BSE Sensex index this year and surpassing Tata Motors Ltd.
To become India’s most valuable carmaker.
Tasuo Yoshida, a senior industry analyst at Bloomberg, said Maruti Suzuki’s domestic profits are “likely to continue to grow in fiscal year 2025 and beyond”, thanks to strong car demand and rising car production capacity in India.
In addition, the company’s emphasis on the African market has boosted exports.
Currently, the company is working with Toyota Motor Company (Toyota Motor Corp.
) and Toyota Trading Co.
(Toyota Tsusho Corp.
) in Africa.
Maruti Suzuki is also preparing for long-term growth.
The company plans to double its annual production capacity to nearly 4 million vehicles by 2031 and will invest 350 billion rupees in its second plant in the western Indian state of Gujarat and 32 billion rupees in existing plants for new production lines.
In addition, Maruti Suzuki is building a new factory in the northern Indian state of Haryana.
In terms of electric vehicles, Maruti Suzuki’s first electric car will be launched in 2025, plans to have six electric vehicles by 2031, and plans to export electric vehicles to Japan and some European countries from this year.
, return to the first electric network home page >.
