Maruti Suzuki Q2 earnings: Net profit falls 17%, revenue at Rs 37,202 crore

Country's largest car maker Maruti Suzuki India reported a 17% fall in Q2 net profit on Tuesday. Profit slipped to Rs 3069.2 crore in the last quarter against Rs 3716.5 crore in the September 2023 quarter. Revenue climbed to Rs 37,202.8 crore in Q2 compared to Rs 37062.1 crore in the corresponding quarter a year ago. 

The Q2 profit was impacted by deferred tax expenditure of Rs 1,015 crore against Rs 67 crore in the corresponding quarter of the previous fiscal. Total tax expenses also surged to Rs 2031 crore in Q2 against Rs 1082 crore in the corresponding quarter of the previous fiscal.

Profit before tax (PBT) in Q2 climbed 6.3% year-on-year to Rs 5,100 crore, being its highest ever for the company.

Earnings per share fell to Rs 97.62 in Q2 against Rs 123.03 crore in the corresponding quarter of the previous fiscal. 

EBITDA slipped 7.7% to Rs 4417 crore in Q2 against Rs 4,784 crore in the September 2023 quarter. 

Maruti sold a total of 541,550 vehicles in Q2, of which the domestic market volume was 463,834 vehicles and the export volume was 77,716 vehicles. 

Maruti Suzuki shares fell 4.35% to Rs 10,833.85 compared to the previous close of Rs 11,482.20 on BSE. Market cap of the car maker slipped to Rs 3.48 lakh crore.