Maruti Suzuki reported a 27 percent year-on-year decline in standalone net profit to Rs 2,414.90 crore for Q2 FY27, impacted by commodity price inflation linked to West Asia disruptions and sharp mark-to-market losses on its investment portfolio.
Net sales for the quarter rose 26 percent to a record Rs 50,615.50 crore compared with Rs 40,135.80 crore in the corresponding period of the previous financial year. Total standalone revenue from operations, including servicing and ancillary revenue, reached Rs 53,340.20 crore in Q2 FY27 against Rs 42,332.30 crore in Q2 FY26.
Profits compressed during the quarter as cost of production expanded at a faster pace than revenue growth. Total standalone expenditure for the quarter rose 30 percent to Rs 50,604.20 crore compared to Rs 39,007.50 crore in the year-ago period. Raw material and component costs surged 48 percent to Rs 37,488.40 crore from Rs 25,324.10 crore in Q2 FY26. Consequently, operating profit (EBIT) fell 17 percent to Rs 2,803.70 crore from Rs 3,382.00 crore in Q2 FY26. Non-operating income dropped sharply to Rs 429.80 crore from Rs 966.10 crore a year earlier due to treasury mark-to-market adjustments.
On a consolidated basis, which includes its insurance broking and component joint ventures, Maruti Suzuki recorded a net profit of Rs 2,466.10 crore in Q2 FY27, down 26 percent from Rs 3,349.00 crore in Q2 FY26. Consolidated revenue from operations reached Rs 53,355.50 crore against Rs 42,344.20 crore, while total consolidated expenses rose to Rs 50,619.00 crore.
Despite the margin squeeze, operational volumes hit an all-time high. Total sales volume grew by nearly 27 percent year on year to 696,654 units during the quarter, supported by a 36 percent growth in small cars and a 68 percent surge in utility vehicle sales.
Network inventory stood at approximately 17 days, with pending customer bookings at around 200,000 units at the end of September. Export billings for the quarter stood at 108,119 units compared to 110,487 units in Q2 FY26.
For H1 FY27, standalone net profit for the six-month period fell 18 percent to Rs 5,767.00 crore compared to Rs 7,060.90 crore in the prior-year period.