Maruti Suzuki Reports Massive 334% YoY Profit Growth In Q2: Stock Hit 52-Week High

On October 28, the share price of Maruti Suzuki India closed at Rs. 9,548.00, up by 5.60% intra day, after reporting a robust 334% YoY growth in its standalone net profit in Q2 FY23. The stock today hit a fresh 52-week high today. However, the profit has surged massively on a low base. The standalone profit gained to Rs. 2,061.5 crore in Q2 FY23, up from Rs. 475.3 crore in Q2 FY22. Its standalone revenue from operations gained by 46% YoY to Rs. 29,931 crore.

In Q2 FY22, the company was affected by high commodity prices and chip shortages. In the last quarter, Maruti reported a healthy operating performance, with a high sales volume. The largest car marker in India sold around 5.17 lakh vehicles in Q2 FY23, which has been the highest ever in any quarter. It gained by 36% YoY, comprising domestic sales of 4.54 lakh units and exports of 63,195 units.

In the last 5 days, the share of Maruti Suzuki gained by 9.18%. Its stock price gained by 10.70% in the last 1 month, and in the last 6 months it gained by 23.71%. It is a large-cap stock with a market capitalization of Rs. 286,751 crore.

The 52-week high level of this stock is Rs. 9,549.95, and the 52-week low level of this stock is Rs. 6,536.55

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