Maruti Suzuki’s share price saw a modest uptick in early trading on November 3, following the company’s announcement of enhanced production figures for October 2023.
As of 09:46 am, Maruti Suzuki India was trading at Rs 10,354.65, marking a gain of Rs 47.60 or 0.46 percent on the BSE.
For the month of October 2023, the company reported a 13 percent increase in total production, with 1,76,437 vehicles produced, compared to 1,56,067 vehicles in October 2022.
The total production of Passenger Vehicles also witnessed a 13 percent surge, totaling 1,73,230 units compared to 153,550 units in the previous year. Additionally, Light Commercial Vehicles production recorded an increase to 3,207 units from 2,517 units year-on-year.
Maruti Suzuki had recently achieved its highest-ever monthly sales, with 1,99,217 units sold in October 2023, marking a 19 percent year-on-year growth compared to the 1,67,520 units sold in October 2022.
Furthermore, the company reported its best-ever monthly domestic dispatches in October, with 1,77,266 units dispatched, signifying a 21 percent increase. Total domestic passenger vehicle sales rose to 1,68,047 units in October 2023, up from 1,40,337 units in October 2022.
In the September quarter, Maruti Suzuki reported a net profit of Rs 3,716.5 crore, reflecting an 80 percent increase from the same period in the previous year. EBITDA also saw significant growth, rising by nearly 73 percent, with a 360 basis point expansion in margin, year-on-year.
