Brokerage firm Prabhudas Lilladher had expected the company to post a 48% in net profit at INR 3,884 crore in the quarter under review. Revenues were expected to grow 21.2% to INR 38,838.2 crore.
Net sales of the company rose 19% to INR 36,697.5 crore in the three months to March 2024. Total expenses went up by 16.3% to INR 34,355.1 crore in the same period.
The mix of utility vehicles, the brokerage had said, increased to 36.7% last quarter from 26% in the year-ago period which is aiding the company to expand margins.
Shares of Maruti Suzuki closed at INR 12,755.95 apiece, down by 1.16% on the Bombay Stock Exchange (BSE).
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