Maruti Suzuki India shares surge over 3 pc on robust Q3 earnings

New Delhi: Shares of Maruti Suzuki India Ltd on Tuesday surged over 3 percent after the firm reported an over a two-fold jump in its December quarter net profit. The stock of the automobile manufacturer jumped 3.27 percent to settle at Rs 8,698.60 per scrip on the BSE.

On the NSE, it advanced 3.31 percent to end at Rs 8,696 apiece. On Tuesday, Maruti Suzuki India (MSI) reported an over a two-fold jump in its net profit to Rs 2,351.3 crore for the third quarter that ended December 31, 2022, on account of robust sales aided by enhanced product portfolio. (Also Read: Bank Holidays February 2023: Bank Branches to be Closed for up to 10 Days in 2nd Month of the Year; Check City-Wise List)

The auto major had reported a net profit of Rs 1,011.3 crore in the October-December quarter of the previous fiscal, it said in a regulatory filing. (Also Read: Union Budget 2023: From tax relief to creating jobs, five MAJOR expectations from upcoming budget)

During the third quarter of 2022-23, the company said its net sales rose to Rs 27,849.2 crore while the same stood at Rs 22,187.6 crore in the year-ago period.

The country’s largest carmaker said it sold a total of 4,65,911 vehicles during the third quarter of FY23.

Sales in the domestic market stood at 4,03,929 units while exports were at 61,982 units in the quarter under review, it added.

The 30-share BSE Sensex indices rose 37.08 points or 0.06 percent at 60,978.75 on Tuesday.