India’s largest passenger vehicle maker, Maruti Suzuki India Ltd, reported a muted set of earnings for the quarter ended June 30, 2026, as higher input costs and operating expenses weighed on profitability despite healthy revenue growth.
The company reported a consolidated profit after tax (PAT) of ₹3,446.9 crore, down 9.1% year-on-year (YoY) from ₹3,792.4 crore and 5.8% sequentially from ₹3,659 crore in the March quarter.
Revenue from operations rose 35.9% YoY to ₹52,469 crore from ₹38,605 crore, while remaining largely flat on a sequential basis compared with ₹52,462.5 crore in the previous quarter.
EBITDA declined to ₹4,653 crore, while the EBITDA margin contracted to 8.9% from 11.6% in the year-ago quarter, reflecting pressure on operating profitability.
The earnings come just a week after Maruti Suzuki announced a price hike of up to ₹30,000 across its vehicle portfolio, effective August 2026.
The company had said persistent inflationary pressures and an adverse cost environment had eroded the benefits of its cost-saving initiatives, prompting it to pass on a part of the higher input costs to customers.
The June-quarter results reflect the impact of these cost pressures, with total expenses rising faster than revenue and weighing on margins.
Higher operating costs weighed on Maruti Suzuki’s profitability during the quarter.
Total expenses increased 40.5% YoY to ₹50,000.3 crore, outpacing the growth in revenue. Raw material costs jumped 45.9% to ₹32,013.2 crore, while employee benefit and other expenses rose 20.3% and 17.7%, respectively.
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