Maruti Suzuki experiences better production in October

Early on November 3, the price of Maruti Suzuki shares was slightly higher due to the company's announcement of stronger production results for October 2023.

In comparison to 1,56,067 vehicles in October 2022, the company's total output for the month of October 2023 increased by 13% to 1,76,437 vehicles.

The output of all passenger vehicles increased by 13% to 1,73,230 from 153,550 units year over year, while that of light commercial vehicles increased to 3,207 from 2,517 units.

October 2023 saw the business announce its highest-ever monthly sales of 1,99,217 units, up 19% year over year from 1,67,520 units in October 2022.

In October 2023, total domestic passenger vehicle sales increased to 1,68,047 units from 1,40,337 units in October 2022. It also announced its best-ever domestic monthly dispatches in October, with 1,77,266 units, up 21%.

The company announced a net profit for the September quarter of ₹3,716.5 crore, which represents an 80% rise over the same period last year. YoY, the margin increased by 360 basis points and the EBITDA increased by over 73 percent.