Maruti Suzuki posts record quarterly revenue ₹50,000cr profits down 7%
Business
Maruti Suzuki just had its best-ever quarter, with sales up 29% and crossing ₹500 billion for the first time, thanks to a boost from GST rate cuts.
But not everything was smooth: profits actually dipped 7% this quarter as higher costs ate into earnings.
Maruti Suzuki sold 2.4m, invests ₹14,000cr
Over the whole year, Maruti sold a record 2.4 million-plus cars and saw exports soar.
To keep up with demand, they're investing ₹140 billion in new production lines in Haryana and Gujarat.
Chairman R C Bhargava called out the positive effect of GST cuts on demand and the board of directors recommended a final dividend of ₹140 per share for shareholders this year.