Maruti Suzuki Sets New Sales Record..but Profits Hit the Brakes

Maruti Suzuki India reported a 26.36% year on year decline in its consolidated net profit to ₹2,466.1 crore for the second quarter of FY 2026–27, ended September. The decline came despite a significant increase in revenue, supported by record vehicle sales. Higher raw material costs, partly attributed to the West Asian conflict, weighed on profitability. In the corresponding quarter of the previous financial year, the company had posted a net profit of ₹3,349 crore. Maruti Suzuki’s revenue rose to ₹53,355.5 crore, while total expenses increased to ₹50,619 crore. Raw material costs surged to ₹37,488.5 crore, compared with ₹25,324.2 crore a year earlier. Operating profit also declined to ₹2,803.7 crore from ₹3,382 crore.

Despite the pressure on profits, Maruti Suzuki recorded its highest-ever quarterly sales of 696,654 vehicles during the September quarter, registering 26.5% growth compared with the same period last year. The company also reported a domestic market share of 40.8%. Meanwhile, Bajaj Auto posted a standalone net profit of ₹3,354 crore for the quarter, marking a 35% increase from ₹2,480 crore in the corresponding quarter of the previous year. Its revenue from operations grew 34% to ₹20,003 crore from ₹14,922 crore, reflecting strong business performance during the period.

Engineering major Larsen & Toubro (L&T) also reported robust growth in the September quarter. Its consolidated net profit increased 32.5% year on year to ₹5,202.10 crore, compared with ₹3,926.09 crore in the corresponding quarter last year. Consolidated revenue rose 16% to ₹78,750 crore, supported by progress across its various businesses. The company secured orders worth ₹1,47,665 crore during the quarter, representing a 28% increase year on year. The results highlight contrasting performances among the three companies, with Maruti Suzuki facing margin pressure despite record sales, while Bajaj Auto and L&T reported significant growth in profit and revenue.