Maruti Suzuki Share Price Skids After Decline in April Sales

In the morning trading session on May 2, 2024, the stock price of Maruti Suzuki India experienced a downturn following the release of its latest sales figures. The renowned automobile giant reported a notable decline in the sales of its mini cars and compact cars during April.

During April, Maruti Suzuki recorded total sales of 1,68,089 units, reflecting a modest 5 percent increase compared to last year. However, the month-on-month comparison revealed a decrease in sales volume. Despite this, the total domestic passenger vehicle sales showed a marginal improvement, reaching 1,37,952 units, compared to 1,37,320 units in the corresponding period of the previous year, according to a moneycontrol report.

Mini segment car sales, including popular models such as Alto and S-Presso, experienced a decline, dropping to 11,519 units from 14,110 units in April 2023. Similarly, sales of compact cars, including Baleno, Dzire, Celerio, and Ignis, witnessed a significant decrease of 24 percent, totaling 56,953 units in April compared to the same period last year.

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Contrastingly, the sales of sports utility vehicles (SUVs) like Brezza, Fronx, Grand Vitara, and Invicto saw a notable surge of 54 percent in April, showcasing a positive trend in this segment.

Maruti Suzuki, India’s largest four-wheeler original equipment manufacturer (OEM), reported a substantial 48 percent increase in net profit, amounting to Rs 3,878 crore for the fourth quarter ended March 31, 2024. This surge in profit was attributed to higher sales volume and favorable commodity prices during the period.

For the entire financial year, the standalone net profit of the company witnessed an impressive growth of over 64 percent, reaching Rs 13,209 crore compared to Rs 8,049 crore in the previous fiscal year ending March 2023. Simultaneously, its total revenue from operations experienced a significant uptick of 20 percent, totaling Rs 140,933 crore for the fiscal year ended March 2024, up from Rs 117,523 crore recorded in FY23.

Maruti Suzuki, the Indian automaker, has initiated the pre-booking phase for the 4th generation Epic New Swift, as conveyed in their announcement to the exchanges on May 1.

According to the carmaker’s filing with the exchange, customers can secure pre-bookings for the 4th generation Epic New Swift by paying Rs 11,000 per unit.

Additionally, the automaker emphasized that the latest iteration of the Epic New Swift maintains its beloved signature sporty design, while also boosting its dynamism and enjoyment of driving.

At 10:31 AM, Maruti Suzuki India’s stock was trading at Rs 12,748 per share on the National Stock Exchange (NSE), marking a decline of Rs 69.50 or 0.54 percent compared to the previous trading session.

Source: BSE

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