Maruti Suzuki Stock Drops 2% After Disappointing April Sales

by | May 2, 2024 | 0 comments

Maruti Suzuki Stock Drops

During the most recent trading session on May 2nd, Maruti Suzuki India’s stock experienced a slight dip in value, decreasing by nearly 2% to Rs. 12,577 per share in early morning trade. This comes after an impressive 25% increase over the past three months.

The shares were traded at Rs. 12,593 apiece on the NSE at 9:20 AM, down 1.8% from the previous day’s close. Despite this minor setback, Maruti reported a growth of 5% in total sales for April at 168,089 units but it was lower than the preceding month.

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This registered higher sales of domestic passenger vehicles at 137,952 units last month compared to 137,320 units in April last year. However, sales of mini segment cars like Alto and S-Presso declined to 11,519 units from 14,110 units in April 2023 while compact cars (Baleno/Dzire/Celerio/Ignis) also fell by around one-fourth YoY to 56,953 units.

On the other hand SUV segment comprising models like Brezza/Fronx/Grand Vitara/Invicto posted robust growth of April’24.

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For FY23-24 Q4 ending March’24; net profit rose by significant ~48% YoY to INR38.78bn driven mainly by higher sales volume and favourable commodity prices while standalone net profit soared above ~64% YoY in FY24 to INR132.09bn vs INR80.49bn last year; even total revenue from operations increased around ~20% YoY during FY24 which stood at INR1409.33bn as against INR1175.23bn previous fiscal year(2022).

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