Maruti Suzuki posts Rs 1,975 crore profit in Q1 FY19, up 26.9%

by Autocar Pro News Desk , 26 Jul 2018

The country’s largest passenger vehicle manufacturer, Maruti Suzuki India today announced its Q1 FY 2018-19 results with sales revenue of Rs 21,810 crore, up 27.3 percent compared to same period last year.

In Q1 FY19, the company sold a total of 490,479 vehicles registering a growth of 24.3 percent YoY, including 463,840 units in domestic market, a growth of 25.9 percent, while exporting 26,639 units.

Maruti Suzuki clocked net sales of Rs 21,810 crore, up 27.3 percent over the same period previous year. The operating profit was Rs 2,631 crore in Q1 FY19, a growth of 59.7 percent over the same period previous year on the back of higher sales volume, favourable product mix and cost reduction efforts, partially offset by adverse commodity prices and forex rates, while it reported net profit of Rs 1,975 crore, up 26.9 percent YoY. 

The company states that the operating profit increased by 59.7 percent and the net profit increased by 26.9 percent on account of lower non-operating income due to mark-to-market impact on the invested surplus, compared to last year.

In June 2018, the PV major sold a total of 134,036 units, marking a 44 percent year-on-year growth (June 2017: 93,057) albeit on a low year-ago base (for Maruti). ruti’s sales numbers have received a robust charge from its range of compact cars, which includes the Swift, Baleno, Dzire, Celerio and the Ignis. These five cars collectively went home to 71,570 buyers, registering growth of 76.7 percent (June 2017: 40,496). Of these, the Swift and the Dzire remain the top grossers with the hatchback and the compact sedan siblings in their latest third-generation avatar having become hot customer favourites in their respective segments.

In Q1 FY2019, these 5 cars have sold a total of 232,667 units, marking handsome 49.8 percent growth and indicative of the fact that demand has returned to the passenger car sector, in light of the sharply rising petrol and diesel prices.