New Delhi, India — April 28, 2026
India’s largest carmaker Maruti Suzuki India Limited reported mixed financial results for the fourth quarter of fiscal year 2025–26, posting strong revenue growth but a decline in net profit due to rising expenses and accounting impacts.
According to its latest regulatory filing, the company’s consolidated net profit fell 6.45% year-on-year to ₹3,659 crore for the January–March quarter, compared with ₹3,911.1 crore in the same period last year.
Revenue Sees Strong Double-Digit Growth
Despite the drop in profitability, Maruti Suzuki recorded robust top-line performance. The company’s revenue from operations surged 28.2% to ₹52,462.5 crore, up from ₹40,920.1 crore a year earlier, driven by steady demand for passenger vehicles and improved sales volumes.
Rising Costs Weigh on Margins
The strong revenue growth was offset by a sharp increase in expenses. Total costs for the quarter rose significantly to ₹48,125.3 crore, compared with ₹37,585.5 crore in the year-ago period.
The company noted that a mark-to-market (MTM) impact further pressured profitability, contributing to the decline in net earnings despite higher sales.
Demand Remains Strong
The Q4 performance indicates that demand for Maruti Suzuki’s vehicles remains resilient in the domestic market. Strong operational momentum continues to support revenue expansion, even as cost pressures challenge margins.
Outlook: Focus on Cost Management
Looking ahead, analysts expect investors to closely track the company’s ability to manage input costs and protect margins. While revenue growth signals healthy demand conditions, profitability will depend on cost control and broader macroeconomic factors.
