Maruti Q1 profit jumps 50% to Rs3,650cr

This was higher than the Street’s estimate of Rs3,467 crore

MUMBAI: Maruti Suzuki, the country’s largest automaker, reported a 46.9 per cent rise in its standalone profit year-on-year to Rs3,650 crore for the first quarter of the current 2025 fiscal year.

This was higher than the Street’s estimate of Rs3,467 crore.

The revenue for the quarter grew by 9.82 per cent year-on-year to Rs33,875 crore, which was below the projected Rs 34,770 crore.

The company attributed its better-than-expected performance to higher sales in sport utility vehicles (SUVs).

Maruti is one of the first carmakers in India to report results in a quarter where car sales have hit a two-year low due to India’s general elections and extreme heat affecting demand.

The company’s sales also grew at their slowest pace in nine quarters.

M & M net profit up 20% to Rs3,283cr

MUMBAI: Mahindra & Mahindra reported a 20 per cent increase in its consolidated net profit, reaching Rs3,283 crore for the first quarter ended June 30, 2024.

The Mumbai-based company had posted a profit after tax of Rs 2,745 crore in the same period last year.

Revenue rose by 10 per cent year-on-year to Rs37,218 crore, compared to Rs33,892 crore in the June quarter of the previous fiscal year, the company said.

Ambuja Cements profit down to Rs790cr

MUMBAI: Ambuja Cements Ltd, part of the Adani Group, reported a consolidated net profit of Rs789.63 crore for the first quarter ended June 2024.

The company had posted a net profit of Rs1,135.46 crore in the April-June period a year ago, according to a regulatory filing by Ambuja Cements Ltd (ACL).

Revenue from operations was Rs8,311.48 crore during the June quarter, compared to Rs8,712.90 crore in the corresponding period of the previous fiscal year. According to ACL, the financial results for the current quarter, preceding quarter, and FY24 also include the results of Sanghi Industries, acquired in August last year, and ACCPL (Asian Concretes and Cements Pvt Ltd), acquired by its subsidiary ACC. Thus, the results for the current quarter and FY24 are not directly comparable to the quarter ended June 30, 2023.

Total expenses in the June quarter were Rs7,566.91 crore. The total income, which includes other income, was Rs8,666.20 crore in the June quarter. The consolidated results of Ambuja Cements include the financial performance of its subsidiary ACC Ltd, in which it holds around a 51% stake, and Sanghi Industries, a Gujarat-based company acquired by the Adani Group last year.

On a standalone basis, Ambuja Cements reported a profit after tax of Rs 570.65 crore in the June quarter, compared to Rs 644.88 crore in the same quarter last year. Standalone revenue from operations was Rs 4,780.32 crore in the first quarter of FY 2024-25.

ACL’s sales volume, including ACC, was 15.8 million tonnes (MT), up 2.6%, marking the highest-ever clinker and cement sales in Q1 over the last five years, according to an earnings statement from the company. On a standalone basis, Ambuja Cements’ own sales volume was 9.3 MT in the June quarter, up 2.2 per cent.