Maruti Suzuki’s net profit soared 33.25 per cent to Rs 3,206 crore for the third quarter ended December compared with Rs 2,406 crore in the October-December period of 2022.

The car maker reported a consolidated revenue of Rs 33,512 crore, which represents a 14.56 per cent year-on-year (y-o-y) increase compared with Rs 29,251 crore in the same period of the previous fiscal year.

Shares of MSIL closed at Rs 10,183.30 apiece on the BSE, up 2.27 per cent from the previous close.

Consumers generally make big-ticket purchases during the festive season, which lasted for a large part of the third quarter last year. Increased sales of more expensive SUVs, such as Grand Vitara and Brezza, helped boost Maruti’s total sales volumes.

Sales of small cars, including the Alto and the Baleno, were, however, down throughout the year and extended into the December quarter as high inflation curbed rural spending, the segment’s largest consumer demographic.

Sun Pharma net up 16%

Sun Pharmaceutical Industries on Wednesday reported a 16.52 per cent rise in its consolidated net profit at Rs 2,523.8 crore in the third quarter ended December 31.

The company had posted a consolidated net profit of Rs 2,166 crore in the year-ago period.

Consolidated total revenue from operations during the quarter under review stood at Rs 12,380.7 crore compared with Rs 11,240.97 crore in the corresponding period a year ago, it added.

Total expenses were higher at Rs 9,560.74 crore against Rs 8,943.38 crore in the same quarter of FY23.

The company’s board has declared an interim dividend of Rs 8.50 per share for the year FY24 against Rs 7.50 per share interim dividend for the previous year.