Maruti Suzuki share price rose over 5 per cent in morning trade on BSE on Thursday, February 1, a day after reporting its December quarter scorecard. Maruti Suzuki share price opened at ₹10,224.85 against the previous close of ₹10,183.30 and soon rose over 5 per cent to the level of ₹10,694.95. Around 10:40 am, the stock traded 4.54 per cent higher at ₹10,645.95.
The stock market benchmark Sensex traded with mild gains ahead of the Interim Budget 2024.
Maruti on Wednesday reported a standalone net profit of ₹3,130 for the quarter ended December, a 33 per cent year-on-year jump, driven by increased SUV sales even as small-car offtake remained subdued.
Maruti Suzuki sold 501,207 vehicles during the quarter, out of which 429,422 units were sold in the domestic market and 71,785 were exported, the highest ever for any quarter.
The company’s standalone revenue from operations in Q3FY24 increased 14.68 per ent to ₹33,308.7 crore from ₹29,044.3 crore a year earlier, benefiting from strong demand for its more expensive and profitable SUV segment, which consists of 7 models at present, including the mid-SUV Grand Vitara and the crossover Fronx, both of which have surpassed 1 lakh units each in cumulative sales, the company told stock exchanges on Wednesday.
Maruti Suzuki stock ended 2.27 per cent higher on Wednesday.