Net sales rose 8.1% YoY to Rs 36,624.7 crore, supported by a marginal uptick in sales volumes and higher non-operating income.
Despite revenue growth, operating EBIT declined 18.9% YoY to Rs 3,057.8 crore, impacted by higher material and employee costs, adverse forex movements, and increased promotional and new plant-related expenses (Kharkhoda greenfield plant). EBIT margin contracted to 8.3% from 11.1% a year ago.
The Profit Before Tax (PBT) rose 3.1% YoY to Rs 4,834.2 crore, aided by a jump in non-operating income, which increased from 2.9% to 5.0% of net sales. PAT margin came in at 10.1%, down from 10.8% in Q1 FY25.
Compared to Q4 FY25, revenue declined 5.7%, and sales volumes fell 12.7%. PAT was broadly unchanged sequentially, while EBIT dropped 9.9%. However, margins improved, with PBT margin rising to 13.2% from 12.3%, and PAT margin increasing to 10.1% from 9.6% in the previous quarter.
The decline in operating leverage was partially offset by lower advertising and administrative costs, as well as higher other income.
During the quarter, the company sold 5,27,861 vehicles, up 1.1% YoY from 5,21,868 units in Q1 FY25. Of this, domestic sales stood at 4,30,889 units (down 4.5% YoY), while exports rose 37.4% to 96,972 units.
Within the domestic portfolio, the Mini + Compact segments accounted for 45.6% of sales but declined 10.6% YoY. Utility Vehicles (UVs) held steady, falling just 0.8% YoY, and contributed 37.6% to the overall domestic mix.
Maruti Suzuki India is engaged in the manufacture, purchase, and sale of motor vehicles, components, and spare parts (automobiles).
Shares of Maruti Suzuki rose 0.10% to settle at Rs 12634.45 on the BSE today.