Daijiworld Media Network - Mumbai

Mumbai, Jan 28: Maruti Suzuki India Limited on Wednesday reported a modest 4 per cent increase in net profit for the October–December quarter (Q3) of FY26, buoyed by a sharp rebound in domestic car demand, particularly in the small car segment.

The country’s largest carmaker recorded a net profit of Rs 3,794 crore for the quarter, compared with Rs 3,659.3 crore in the corresponding period last year, as per its regulatory filing. The reported profit includes a one-time exceptional charge of Rs 593.9 crore linked to the implementation of new labour codes that came into effect last year.

Revenue from operations surged by about 29 per cent year-on-year to Rs 49,891.5 crore in Q3 FY26, up from Rs 38,752.3 crore in the same quarter of the previous financial year. Operating performance also improved, with EBITDA rising 10 per cent to Rs 5,571.7 crore during the quarter.

Maruti Suzuki said the Indian passenger vehicle market showed strong signs of recovery following recent GST reforms, with growth largely led by renewed demand for small cars. The company achieved its highest-ever quarterly domestic sales, delivering 5,64,669 vehicles during the quarter, compared with 4,66,993 units a year earlier—an increase of 97,676 units.

Small cars in the 18 per cent GST bracket played a key role in this growth, accounting for 68,328 units of the overall rise in domestic sales. Including exports, Maruti Suzuki reported record total sales of 6,67,769 units for the quarter, with overseas shipments contributing 1,03,100 units.

The earnings announcement triggered sharp volatility in Maruti Suzuki’s share price. The stock initially dropped nearly 4 per cent to Rs 14,431 before rebounding strongly to gain almost 6 per cent from the day’s low, touching Rs 15,294. However, the recovery proved short-lived, and the stock slipped back into negative territory.

At around 3:05 p.m., Maruti Suzuki shares were trading at Rs 14,934, down Rs 289 or 1.90 per cent.