Positive earnings trend: 13 out of 15 Nifty auto companies witness growth in net profit in Q4
In the latest March quarter, the majority of Nifty Auto companies showcased a remarkable performance.
13 out of 15 companies in the index, reported positive net profit growth.
This remarkable achievement can be attributed to several key factors. Firstly, there was a significant rebound in domestic sales, indicating a revival in consumer demand.
Additionally, the decline in commodity prices, particularly steel and aluminium, helped alleviate cost pressures for these companies.
Adding to this, the easing of supply chain disruptions played a crucial role in improving operational efficiency.
Another contributing factor was the rise in replacement demand, coupled with the availability of ample financing options.
Maruti Suzuki's consolidated net profit surged 42% YoY to rupees 2,671 crore in Q4FY23, driven by higher sales and an improved product mix.
Mahindra & Mahindra achieved a record annual profit of rupees 10,282 crore in FY23, with an 18% increase in Q4 profit
Hero MotoCorp, TVS Motor, Eicher Motors, and Bajaj Auto reported significant net profit growth