Maruti Suzuki's net profit in Q3FY23 more than doubles, revenue up 25%

Maruti Suzuki Q3 results: The company sold 465,911 vehicles in the quarter, up from 430,668 units the same quarter last year

On the back of a strong demand for its passenger cars, Maruti Suzuki India reported a better-than-expected 129.55 per cent jump in the quarterly consolidated net profit in the third quarter (Q3FY23) on Tuesday.  

As compared to Rs 1,041.8 crore in Q3FY22, the automaker reported a profit of Rs 2,391.5 crore in Q3FY23. The total revenue from operations came in at Rs 29,057.5 crore, rising 24.96 per cent from Rs 23,253.3 crore year-on-year (YoY).

"The company sold a total of 465,911 vehicles during the quarter. Sales in the domestic market were 403,929 units and exports were 61,982 units. Shortage of electronic components