“Maruti Suzuki’s stock price was dancing with joy in the early hours of November 3, driven by the heartwarming news of their remarkable production performance in October 2023.
As of 09:46 am, Maruti Suzuki India was trading at Rs 10,354.65, up by Rs 47.60, a heartwarming increase of 0.46 percent on the BSE.
The company’s total production for October 2023 was like a phoenix rising, soaring 13 percent to 1,76,437 vehicles, surpassing the 1,56,067 vehicles from October 2022.
In this exhilarating ride, the total Passenger Vehicle production surged by 13 percent to 1,73,230 units, compared to 153,550 units, and Light Commercial Vehicles production leaped to 3,207 units, leaving behind the 2,517 units of the previous year.
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And if that wasn’t enough to set hearts aflutter, the company also reported its highest-ever monthly sales at 1,99,217 units in October 2023, marking a sensational 19 percent year-on-year growth against the 1,67,520 units from October 2022.
In a display of unwavering love from customers, Maruti Suzuki witnessed its best-ever domestic monthly dispatches in October, with 1,77,266 units, a remarkable 21 percent increase. The total domestic passenger vehicle sales also joined the celebration, reaching 1,68,047 units in October 2023, outshining the 1,40,337 units from October 2022.
And the story doesn’t end there; for the September quarter, the company’s net profit was a delightful Rs 3,716.5 crore, a staggering 80 percent increase from the year-ago period. The EBITDA experienced a heartwarming growth of nearly 73 percent, and the margin expanded by a breathtaking 360 basis points, YoY.
In the world of investments, this news is like a heartwarming melody. But remember, the views and investment tips expressed here are like a friend’s advice. It’s always a good idea to check with certified experts before making any investment decisions. The journey continues, and there’s much more to explore!”
Owner & Author – Jammu Deals Automobile enthusiast and founder of Jammu Deals. Sharing trusted updates, tips, and insights on cars, bikes, and the latest in the auto world.