Maruti Suzuki registers highest-ever sales in FY2023-24

Maruti Suzuki's net profit increased by 64% to Rs 1,32,094 million in FY2023-24.

For the first time, Maruti Suzuki’s annual sales surpassed the 2 million unit mark in FY2023-24. The company also registered its highest-ever exports, net sales and net profit.

Maruti Suzuki sold 21,35,323 vehicles during the year, a growth of 8.6% compared to FY2022-23. The carmaker sold 18,52,256 units in the domestic market, while exports stood at 2,83,067 units.

Maruti Suzuki registered net sales of Rs 1,349,378 million in FY2023-24, a growth of 19.9% over the net sales of Rs 1,125,008 million in FY2022-23. 

The company’s net profit increased by 64% from Rs 80,492 million in FY2022-23 to Rs 1,32,094 million in FY2023-24. The steep rise in net profit can be attributed to higher sales volume, favourable commodity prices, cost reduction efforts and higher non-operating income.

Maruti Suzuki’s fourth-quarter sales increased by 13.4% compared to the previous year. Domestic sales stood at 5,05,291 units, and 78,740 units were exported.

Net sales during the quarter stood at Rs 3,66,975 million compared to Rs 3,08,218 million in the same period of the previous year. Net profit also increased by 47.8%.