Revenue from operations rose 8% YoY to Rs 38,605 crore, compared to Rs 35,779 crore posted in the corresponding quarter of the previous fiscal year.
On a sequential basis, net profit declined 3% from Rs 3,911 crore reported in the quarter ended March 2025.
On a standalone basis, net profit rose 2% YoY to Rs 3,712 crore, compared to Rs 3,650 crore in the same period last year. Standalone revenue from operations grew 8% YoY to Rs 38,414 crore, up from Rs 35,531 crore in the year-ago quarter.
Sequentially, standalone net profit remained largely flat, inching up slightly from Rs 3,711 crore reported in the March 2025 quarter.
For Q1FY26, the company reported a 1% YoY increase in sales volume to 5,27,861 units, up from 5,21,868 units in Q1FY25. Net sales rose 8% YoY to Rs 36,624.70 crore, compared to Rs 33,875 crore in the same quarter last year.However, operating EBIT declined 19% YoY to Rs 3,058 crore, down from Rs 3,771 crore in Q1FY25, indicating margin pressure despite higher sales.The decline in operating EBIT during Q1FY26 was attributed to several margin headwinds. Key negative factors impacting profitability included adverse commodity prices, unfavourable foreign exchange movements, and higher sales promotion expenses.
Additionally, the company incurred new plant-related expenses linked to the Kharkhoda greenfield facility, further weighing on margins despite growth in sales volume and revenue.
In Quarter 1, the domestic passenger vehicle industry continued to witness a sluggish demand environment. For the company, a decline in domestic sales of 4.5% was compensated by a robust 37.4% growth in exports, resulting in an overall sales volume increase of 1.1% for the quarter, year-on-year,” the company stated in its press release.
Segment-wise, in Q1FY26, the company reported domestic sales of 4,30,889 units, reflecting a 4.5% year-on-year decline. The drop was primarily driven by a sharp 36.6% decline in Mini segment sales, which stood at 19,522 units.
Compact cars, the largest segment by volume, saw a 6.3% decline, with 1,77,270 units sold. The combined Mini + Compact segment recorded a 10.6% YoY decline. Mid-size vehicles fell 16.7%, while UVs and Vans posted more moderate declines of 0.8% and 2.0%, respectively.
However, Light Commercial Vehicle (LCV) sales rose 7.1%, and sales to other OEMs jumped 18.8%, offering some offset to the overall softness in core segments.
Following the Q1 results announcement, shares of Maruti Suzuki India closed flat at Rs 12,594.65 on the BSE on Thursday.
