India's largest carmaker, Maruti Suzuki India Ltd., announced a significant 26.36% year-on-year (YoY) decline in its consolidated net profit for the second quarter (Q2) of the fiscal year 2027. The profit, attributable to owners, stood at ₹2,466.1 crore, down from ₹3,349 crore in the corresponding quarter of the previous year. This also represents a 28.46% quarter-on-quarter (QoQ) fall from ₹3,446.9 crore reported in Q1 FY27.
Despite the dip in profitability, the company demonstrated robust growth in its top-line figures. Revenue from operations surged by 26% YoY, reaching ₹53,355.5 crore, compared to ₹42,344.2 crore in Q2 FY26. Sequentially, revenue also saw a modest increase of 1.69% from ₹52,469.8 crore in the preceding quarter.
Record Sales Volume and Market Share Gains
Maruti Suzuki recorded its highest-ever quarterly total sales volume, selling 696,654 units in Q2 FY27. This marks a substantial 26.5% growth compared to the same period last year. The company attributed this strong performance to broad-based growth in the domestic passenger vehicle market.
Small car sales witnessed a healthy increase of 35.9%, while SUV sales experienced an even more impressive jump of 68.2%. The recently introduced SUV models were highlighted as key contributors to this growth momentum. Consequently, Maruti Suzuki's domestic market share expanded by 2.2 percentage points, reaching 40.8% during the quarter.
Addressing Demand and Supply Challenges
The company acknowledged that recent capacity additions have been instrumental in meeting the strong market demand. However, demand continues to outpace supply, indicating persistent challenges. At the close of the quarter, Maruti Suzuki reported network inventory of approximately 17 days and a substantial backlog of around 200,000 pending bookings.
In the export markets, the carmaker sold 108,119 units in Q2 FY27. This figure represents a slight decrease from the 110,487 units exported in Q2 FY26, a performance the company attributed to the prevailing challenging geopolitical situation.
Stock Performance Post-Earnings
Following the announcement of the quarterly earnings shortly after market hours on Tuesday, Maruti Suzuki shares reacted positively. The stock rose by 2.28% to settle at ₹11,454.85 on the BSE.