Maruti Suzuki to Nearly Double Capacity After Profit Beat
- Carmaker plans to add capacity by up to 1 million vehicles
- Announced a record dividend of 90 rupees per share: filing
The taillight of a Maruti Suzuki India Ltd. Fronx sport utility vehicle at the India Auto Expo 2023 in Noida, Uttar Pradesh, India, on Jan. 13.
Photographer: Anindito Mukherjee/BloombergThis article is for subscribers only.
Maruti Suzuki India Ltd. reported a higher-than-expected quarterly profit as car sales recovered and supply chain disruptions eased. It also got in-principle board approval to add capacity of up to 1 million vehicles annually.
Net income rose 42% to 26.2 billion rupees ($321 million) in the three months ended March 31, compared with the year-ago period, the unit of Japan’s Suzuki Motor Corp. said Wednesday. India’s largest carmaker exceeded the average analyst estimate of 25.65 billion rupees, according to data compiled by Bloomberg.