Maruti Suzuki earnings fell in the July–September 2026 quarter as consolidated net profit declined 26% from a year earlier to ₹2,466 crore, even though revenue from operations rose about 26% to ₹53,356 crore.
Key Takeaways
- Total expenses rose nearly 30% year on year, outpacing revenue growth.
- Quarterly vehicle sales reached a record 697,000 units, while exports declined.
- Shares closed around 2% higher on October 27, 2026; the results were announced near the end of the session.
Maruti Suzuki earnings face higher costs
Net profit fell from ₹3,349 crore in the second quarter of fiscal 2026, while revenue from operations increased from ₹42,344 crore. Total expenses climbed to ₹50,619 crore from ₹39,018 crore.
The company said operating profit declined because of commodity price increases linked to the conflict in West Asia. It also said non-operating income fell sharply because of mark-to-market losses on invested surplus.
| Item | Details |
|---|---|
| Operating profit | ₹2,804 crore, down from ₹3,382 crore a year earlier |
| Materials consumed | ₹37,489 crore, up 48% year on year |
| Employee costs | ₹2,351 crore, up 14.5% year on year |
| Net sales | A quarterly record ₹50,616 crore, up from ₹40,136 crore a year earlier |
Record vehicle sales and pending bookings
Total sales volume rose 26.5% year on year to a quarterly record of 697,000 vehicles. Domestic small-car sales increased nearly 40%, while SUV sales rose more than 68%. Maruti Suzuki’s domestic market share increased by 2.2 percentage points to 40.8%.
The company said recent capacity additions helped it meet strong demand, but demand continued to exceed supply. It ended the quarter with about 17 days of network inventory and approximately 200,000 pending bookings.
Exports fell to 108,119 units in the second quarter of fiscal 2027 from 110,487 units a year earlier.
Shares close higher
Maruti Suzuki shares closed at ₹11,450 on October 27, up around 2%. The results were announced near the end of the session, when the stock was already in the closing auction session.
The shares had fallen more than 5% over the preceding month and 31% so far in 2026.
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