Maruti Suzuki Posts Decline in Quarterly Profit Despite Revenue Rise

Maruti Suzuki India reported an 18% decrease in net profit for the second quarter of 2024 at Rs 3,102 crore, compared to Rs 3,786 crore in the same period last year. However, the company's total revenue from operations slightly increased to Rs 37,449 crore. The shares dropped 5.88% on BSE.

Maruti Suzuki India has reported a significant decline in its net profit for the fiscal quarter ending September 2024, with an 18% year-on-year decline to Rs 3,102 crore. This comes in contrast to last year's Rs 3,786 crore profit during the equivalent period.

Meanwhile, the car manufacturing giant saw a modest increase in total revenue from operations, rising to Rs 37,449 crore from last year's Rs 37,339 crore for the same quarter. This surge in earnings was not enough to prevent a downturn in their quarterly profit figures.

The company's shares reflected this performance, experiencing a 5.88% drop on the Bombay Stock Exchange, trading at Rs 10,807.50 per share by Tuesday.

(With inputs from agencies.)