Maruti Suzuki reports 19% YoY growth in October sales

  • Stock Market News
Maruti Suzuki reports 19% YoY growth in October sales
Credit: © Reuters.

Maruti Suzuki (NS: MRTI ) India (MSI) reported a 19% year-on-year growth in its monthly sales for October 2023, setting a new record. This increase was primarily driven by robust domestic dispatches and passenger vehicle sales, despite a decrease in the sales of mini segment cars such as the Alto and S-Presso.

The company witnessed a rise in demand for compact car models including the Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR. Furthermore, utility vehicles like the Brezza, Grand Vitara, Ertiga, and XL6 experienced a significant sales surge of 91%.

In terms of exports, MSI maintained a strong position with 21,951 units dispatched overseas in October 2023. This performance underlines the company's market resilience amid fluctuating automotive trends.

InvestingPro Insights

According to InvestingPro data, Maruti Suzuki India 's net profit margin stood at 7.1% for the last twelve months as of Q1 2023, indicating a solid profitability. The company's return on equity, a measure of financial performance, was 15.2% during the same period, showcasing its efficiency in using investments to generate earnings growth. Moreover, MSI's revenue growth for Q1 2023 was reported at 18.4%, aligning with the robust sales growth mentioned earlier.

InvestingPro Tips suggest investors to keep a close eye on MSI's profit margin as it is a key indicator of the company's fiscal health. Furthermore, the company's return on equity should be monitored as it shows how well the company uses investment funds to generate earnings growth. For more insights like these, consider exploring the range of tips offered by InvestingPro.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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