Maruti Suzuki India reported a consolidated net profit of ₹2,466.1 crore for the quarter ended 30 September 2026, down 26.36% from ₹3,349 crore a year earlier, according to Business Standard's report of 27 October 2026. Revenue from operations rose to ₹53,355.5 crore from ₹42,344.2 crore, about 26% higher. Spectate Media has not seen the company's filing and relies on that report.
Why profit fell
The company said operating profit (EBIT) fell to ₹2,803.7 crore from ₹3,382 crore a year ago, owing to commodity price increases linked to the West Asia conflict. Cost of materials consumed rose to ₹37,488.5 crore from ₹25,324.2 crore. Non-operating income also dropped sharply because of mark-to-market losses on invested surplus. EBIT was up 10.8% from the previous quarter. On those figures, Spectate Media's own calculation puts the EBIT margin at about 5.3%, against about 8.0% a year earlier; the report does not state margins.
Costs against sales
On Spectate Media's calculation from the reported figures, material costs rose about 48% while revenue and unit sales each rose about 26%, which explains how record volumes still produced lower profit. The company did not break out how much came from commodities and how much from the investment losses.
Record volumes
Total sales were a record 696,654 units, up 26.5%. Small car sales rose 35.9% and SUV sales rose 68.2%. Exports were 108,119 units, slightly below 110,487 a year earlier. Domestic market share rose 2.2 percentage points to 40.8%.
Demand outpaces supply
The company said demand continued to outpace supply even with higher capacity. Network inventory was about 17 days and pending bookings were about 200,000 units at the end of the quarter. It credited its recently launched SUVs for the market response.
What to watch
The report gives no full profit and loss statement, earnings per share or management guidance, so it is unclear how long the cost pressure will last. The next marker will be whether input costs ease and whether volumes stay at this level. Not investment advice.
Source: Business Standard, 27 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
