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Maruti Suzuki Q2 Profit Soars by Over 80% to Rs 3,717 Crore

Mumbai, Oct 27. Maruti Suzuki India reported a remarkable 80.3% increase in net profit, reaching Rs 3,716.5 crore in the July-September quarter. This growth was driven by improved sales, lower commodity prices, cost reduction efforts, and higher non-operating income.

In a statement, Maruti Suzuki India stated that it had achieved a net profit of Rs 2,061.5 crore in the second quarter of FY23.

During the same quarter, the company recorded net sales of Rs 35,535.1 crore, compared to Rs 28,543.50 crore in the previous fiscal year. This increase was attributed to higher sales volume and a favorable product mix.

In the July-September period, the company sold 552,055 vehicles, surpassing the 517,395 units sold in the same quarter last year. Of these, 482,731 units were sold in the domestic market, while the remaining 69,324 cars were exported.

The company also highlighted that this quarter marked its highest-ever quarterly sales volume, net sales, and net profit.

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