NEW DELHI: Maruti Suzuki India Ltd (MSIL), the country’s largest carmaker, on Wednesday reported a 16 per cent year-on-year (YoY) increase in consolidated net profit to Rs3,727 crore for the third quarter ended December 31, 2024.

This marks a significant improvement from the Rs3,207 crore net profit recorded in the same period last year, driven by strong sales performance and improved operating efficiency.

Total revenue from operations rose 15.6 per cent YoY to Rs38,764 crore, compared with Rs33,513 crore in the October-December quarter of the previous fiscal, the company said in a regulatory filing.

The growth was primarily fueled by higher vehicle sales, improved product mix, cost-reduction initiatives, and favourable foreign exchange rates.

Amalgamation

Maruti Suzuki’s board has approved the amalgamation of Suzuki Motor Gujarat (SMG) into the company, consolidating manufacturing operations under a single entity.

This move is expected to enhance operational efficiencies and cost synergies for the automaker. The company board also approved the reappointment of Hisashi Takeuchi as Managing Director and Chief Executive Officer for another three years, extending his tenure from April 1, 2025, to March 31, 2028. Takeuchi has played a pivotal role in strengthening Maruti Suzuki’s market leadership and expanding its product portfolio.

Following the earnings announcement, Maruti Suzuki’s shares closed 1.41 per cent down on NSE at Rs11,953 on Wednesday.

Growth outlook

Maruti Suzuki remains optimistic about future demand, supported by rising disposable incomes, new model launches, and strong rural market penetration.

The company is also focusing on expanding its electric vehicle (EV) and hybrid portfolio, in line with India’s push toward green mobility.

With a healthy order book and steady improvement in semiconductor supply, Maruti Suzuki is well-positioned to maintain its dominance in the Indian automobile market in the coming quarter