The country's largest passenger carmaker Maruti Suzuki India Limited (MSIL)'s consolidated net profit for the quarter ended December stood at Rs 3,206.8 crore, marking a 33% jump on a year-on-year basis. Net profit last year was Rs 2,406.1 crore.
Revenue for the quarter came in at Rs 35,512.8 crore versus Rs 29,251.1 crore in the year-ago period. This translates roughly to a 15% year-on-year growth.
"We have a Buy rating on the stock. Continuing PV sales upcycle, new products in FY25 (Swift/Drize refreshes, GV variant and new E-SUV) and margin expansion should support earnings performance ahead," said Raghunandan NL, Director, Nuvama Institutional Equities.
He further added that the profit was above what they had estimated, owing to higher operating profit and other income.
In its filing to the exchanges, the company claimed to have crossed the annual sales milestone of 2 million units in calendar year 2023 for the first time.