Maruti Suzuki India clocked nearly 47% jump YoY in Q1FY25 net profit at Rs 3649.9 crore from Rs 2485.1 crore in Q1FY24. Softer commodity prices and favourable exchange rates helped maintain margins in Q1. The net sales in the first quarter came in at Rs 33875.3 crore, up 9.8% YoY from Rs 30845.2 crore in Q1FY24.
Maruti Suzuki Q1 highlights: Discounts and CNG sales
Sharing highlights of the Q1 performance, Maruti Suzuki India sold a total of 521,868 cars, up nearly 5% from 498,030 cars sold in the same quarter last year. Of the total cars sold, discounted vehicles comprised of 21,700 units. Exports in Q1 came in at 70,500 units with the Africa, Latin America and Middle East being the key markets and Jimny being the highest exported model.
The passenger vehicle market leader sold slightly less than 1.5 lakh CNG cars in Q1 and the top sellers in this category include Ertiga, Dzire and WagonR. Maruti Suzuki India’s Chief Investor Relations Officer, Rahul Bharti said that “1 in every 3 Maruti Suzuki car sold in Q1 is a CNG variant.”
Revival in rural demand
Favourable foreign exchange movement and lower commodity prices coupled with higher operating income helped the financials. Improving focus in terms of revving up sales also played a part. Maruti Suzuki India’s Bharti said, “rural markets have been doing better than urban for a while for us. Overall in the small car segment, we are trying to arrest decline with new offerings like the the all-new Swift.” Maruti Suzuki launched the all-new Swift in May this year at a starting price of Rs 6.49 lakh (ex-showroom).
