Hit by global geopolitical tensions that led to higher input costs, Maruti Suzuki India (MSIL) on Tuesday reported a 26.36 per cent decline year-on-year (YoY) in its consolidated net profit for the second quarter (Q2) ended September 30, to ₹2,466.1 crore, as compared with ₹3,349 crore in the same period last year.
The total expenses during the July-September quarter shot up to ₹50,619 crore as compared with ₹39,018.4 crore in the year-ago period, the company said, adding that the cost of materials consumed in Q2 rose to ₹37,488.5 crore from ₹25,324.2 crore in the corresponding period last fiscal.
The operating profit (EBIT) in the quarter stood at ₹2,803.7 crore as compared to ₹3,382 crore in Q2 FY26 owing to the adverse commodity prices in the context of West Asia conflict, the company said. MSIL also said that margins are also impacted due to the adverse foreign exchange movement and lower non-operating income due to mark-to-market losses on invested surplus.
However, the consolidated revenue from operations grew by 26 per cent YoY to ₹53,355.5 crore in the quarter in review as against ₹42,344.2 crore in the Q2 FY26.
Speaking to mediapersons on a post-earnings call, RC Bhargava said that despite the macroeconomic factors, the company expects better results in the coming quarters.
“The future looks quite rosy. We’ve had a bad monsoon, in the sense that El Nino has been highly active, it’s going to continue for a few more months. Despite all of that sales are at record level. So, I must say that the future became very different for the car industry, once again after GST reforms,” he said.
Not only the domestic sales, Maruti has become by far the biggest leader in terms of export of cars, he said, adding that last year, MSIL exported 4.4 lakh cars and this year despite the war, it expects to exceed the number.
In terms of volume sales, MSIL sold 6,96,654 units during the Q2 this year, growing by 26.5 per cent YoY as compared with 5,50,874 units in the corresponding period last year.
Meanwhile, Bhargava added that the company has sold around four-lakh small cars in the first half of this year, which recognises that India actually does have a small market.
Shares of MSIL closed at ₹11,454.85 apiece on the BSE on Tuesday, up 2.28 per cent from the previous close.
Published on October 27, 2026
