Maruti Suzuki December sales fall 1.3% annually to 1.37 lakh units

Maruti Suzuki India on Monday announced that its total sales in December 2023 dropped 1.3 per cent annually to approximately 1.37 lakh units, from 1.39 lakh units in December 2022.

Total sales in December include domestic sales of 1.06 lakh units, sales to other OEM of 4,175 units and exports of 26,884 units. 

Maruti Suzuki’s exports rose over 23 per cent annually to 26,884 units, from 21,796 units in the same month last year. 

The company further claimed to have crossed the annual sales of 2 million units in calendar year 2023 for the first time, which includes its highest ever calendar year exports of over 2.69 lakh units.

The shares of Maruti Suzuki have climbed a little over 22 per cent in 2023, outperforming the benchmark indices, which managed to surged about 20 per cent during the same period.

Financial performance

Maruti Suzuki’s net profit soared 80 per cent annually to Rs 3,716.5 crore. Its revenue for the quarter came in at Rs 37,062 crore.

The automaker’s EBITDA stood at Rs 4,784 crore, while its EBITDA margin for the quarter came in at 12.9 per cent. Softer commodity prices, cost reduction initiatives, enhanced realization, relatively stronger sales volumes, and increased non-operating income Softer commodity prices, cost reduction moves, improved realisation contributed to Maruti's improved margin performance. 

As of 1:16 pm, shares of Maruti Suzuki were trading 0.59 per cent lower at Rs 10,239 per share.