Maruti Suzuki India announced that its total production increased 8.16% to 166,730 units in March 2024 as against 154,148 units recorded in March 2023.
Sequentially, the auto major's total production decreased 6.46% as compared with 178,261 units produced in February 2024.The production of passenger vehicles stood at 163,333 units (up 8.3% YoY) and production of light commercial vehicles came in at 3,397 units (up 2.07% YoY) during the period under review.
Meanwhile, the company has received a demand notice giving effect to the Income Tax Appellate Tribunal's (ITAT) order for FY 2009-10 wherein certain additions / disallowances have been made pursuant to which demand of Rs 238.72 crore has been raised on the company.
The firm informed that it will be filing an appeal before the CIT (Appeals) against this demand and penalty proceedings (if any).
Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components, and spare parts (automobiles).
The auto major company reported 33.27% increase in consolidated net profit to Rs 3,206.80 crore on 14.33% rise in revenue from operations to Rs 31,844.70 crore in Q3 FY24 over Q3 FY23.
Shares of Maruti Suzuki India fell 0.16% to currently trade at Rs 12,549.65 on the BSE.
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