Maruti Suzuki India has reported impressive financial results for the third quarter of 2024, ending December 31. The company posted a 16% increase in its consolidated net profit, reaching INR 3,727 crore, compared to INR 3,207 crore during the same period last year. This growth comes alongside a significant surge in revenue and several key leadership announcements that promise to further strengthen the company's future prospects.
Key Financial Highlights:
- Consolidated Net Profit: INR 3,727 crore (up 16% YoY)
- Revenue from Operations: INR 38,764 crore (up from INR 33,513 crore last year)
- Nine-Month Period Performance:
- Consolidated net profit for April-December FY25 rose 5% YoY to INR 10,589 crore (from INR 9,536 crore).
- Consolidated revenue for the period grew by 8.32% YoY to INR 1,11,993 crore (up from INR 1,03,387 crore).
- Highest-ever nine-month sales volume: 16,29,631 units (a 5% increase YoY from 15,51,292 units in 2023).
Key Leadership Decisions:
Maruti Suzuki's growth is not only attributed to its financial performance but also to several leadership decisions that will shape the company’s direction in the coming years:
- Reappointment of Hisashi Takeuchi: The Board of Directors approved the reappointment of Hisashi Takeuchi as Managing Director and Chief Executive Officer (CEO) for a further three-year term, starting April 1, 2025, and lasting until March 31, 2028.
- Reappointment of Maheswar Sahu: The Board recommended the reappointment of Maheswar Sahu as an Independent Director for a five-year period, from May 14, 2025, to May 13, 2030.
Scheme of Amalgamation Announcement:
Additionally, the Board approved a Scheme of Amalgamation between Maruti Suzuki India Limited (MSIL), Suzuki Motor Gujarat (a wholly owned subsidiary), and their respective shareholders and creditors. This strategic move aims to streamline operations and strengthen the company's foundation.
The company clarified that there will be no change in the shareholding pattern as part of this scheme, as no shares will be issued in consideration for the amalgamation.
Conclusion:
Maruti Suzuki continues to show robust financial performance with impressive growth in net profit, revenue, and sales volume. The company’s strategic leadership changes and corporate restructuring reflect its commitment to long-term growth and excellence. As the company moves into 2025, it’s clear that Maruti Suzuki is well-positioned to maintain its leadership in India’s automotive industry, with key decisions driving future success.
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