Maruti Suzuki Q3 results: Net profit grows 16% YoY to Rs 3,727 crore helped by healthy sales volumes growth, beats estimate

Maruti Suzuki Q3 FY25 Results Repot

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26 Aug, 2025 12:21

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Maruti Suzuki India Ltd reported a 16 percent year-on-year rise in consolidated net profit to Rs 3,727 crore for the third quarter of FY25, surpassing analysts' estimates. A Moneycontrol poll of brokerages had projected the automaker’s net profit at Rs 3,596 crore, reflecting a 15 percent increase year-on-year.

Revenue for the quarter stood at Rs 38,764 crore, marking a 16 percent year-on-year rise, slightly below analysts' estimate of Rs 38,838 crore. On a standalone basis, the company recorded its highest-ever quarterly net sales at Rs 36,802 crore, up 15.5 percent from Rs 31,860 crore in the same period last year. Standalone net profit rose 12.6 percent year-on-year to Rs 3,525 crore from Rs 3,130 crore in Q3 FY24.

Maruti Suzuki shares gave up the day's gains post the Q3 earnings report, and fell into red. The stock was trading down 0.9 percent at Rs 12,015 on NSE.

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The company registered strong sales performance during the quarter, with total vehicle sales rising 13 percent year-on-year to 5,66,213 units. Domestic sales increased by 8.7 percent to 4,66,993 units, while exports surged 38.2 percent to 99,220 units, marking the highest-ever exports in any quarter.

Among key segments, utility vehicle (UV) sales rose 20.2 percent to 1,85,298 units, while compact car sales declined 4.6 percent to 1,82,227 units. Mini car sales grew marginally by 2.8 percent to 27,855 units. Sales to other original equipment manufacturers (OEMs) nearly doubled, rising 89.2 percent year-on-year to 27,102 units.

On the operational front, EBITDA for the quarter stood at Rs 4,471 crore, reflecting a 14 percent increase from Rs 3,908 crore a year ago. However, EBITDA margin came in slightly lower at 11.6 percent, compared to 11.7 percent in Q3 FY24.

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Brokerages had anticipated a decline in EBITDA margins due to higher discounts and increased spending on advertising and promotions. However, the impact was mitigated by a richer product mix, higher average selling prices, and operating leverage benefits.

Operating EBIT grew 16.1 percent year-on-year to Rs 3,665 crore, while profit before tax (PBT) rose 13.5 percent to Rs 4,601 crore. The company saw a marginal increase in material costs as a percentage of net sales, which stood at 74.7 percent compared to 74 percent in the year-ago quarter.

Other expenses declined to 13.6 percent from 14.1 percent, while depreciation expenses as a percentage of sales fell to 2.2 percent from 2.4 percent last year. Non-operating income contributed 2.7 percent of net sales, slightly lower than 2.9 percent in Q3 FY24.

For the April-December period of FY25, Maruti Suzuki recorded its highest-ever nine-month sales volume, it said in a statement. The company sold a total of 16,29,631 units during the period, reflecting a 5 percent growth over the same period last year. Domestic sales stood at 13,82,135 units, while exports reached 2,47,496 units.

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